News & Analysis as of

Personal Liability Banking Sector

K2 Integrity

Pre-Investment Due Diligence for Private Funds

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Recent high-profile banking and startup failures demonstrate the importance of pre-investment due diligence across the marketplace. Given the size and scope of many deals, and the resulting capital at stake, it is important...more

Foley & Lardner LLP

Labor and Employment FAQs In Light of Uncertain Financial Times

Foley & Lardner LLP on

Notwithstanding the very recent good news that it appears the federal government and regulators currently have control and a plan in place to limit the impact of Silicon Valley Bank’s (SVB) and Signature Bank’s recent...more

King & Spalding

Personal Liability Exposure for Bank Executives and Compliance Officers

King & Spalding on

On March 4, 2020, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) announced its assessment of a civil monetary penalty totaling $450,000 against Michael LaFontaine, a former Chief Operational...more

Manatt, Phelps & Phillips, LLP

SCOTUS Declines Hearing Madden: Are Industry Repercussions Limited?

In a disappointing move, the Supreme Court today denied the petition by Midland Funding to hear the case Madden v. Midland Funding. But could the inaction by the Supreme Court be much ado about nothing?...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

Carlton Fields on

REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more

Manatt, Phelps & Phillips, LLP

UPDATE re Is New York's Proposal a Harbinger of Things to Come? Certification of BSA/AML Compliance and Personal Liability for...

Update - This announcement comes just days after New York Governor Andrew Cuomo nominated Maria Vullo, another lawyer, to replace Benjamin Lawsky, who resigned as the Superintendent of the Department of Financial...more

Burr & Forman

Cybersecurity Legislation Stalks Bank Directors

Burr & Forman on

To avoid potential personal liability for cybersecurity breaches, bank directors should take proactive steps to make sure their institution complies with all applicable regulations. In the wake of recent well-publicized...more

Manatt, Phelps & Phillips, LLP

Fourth Circuit: Business Judgment Rule May Not Protect Bank Officers in FDIC Action

Why it matters - Bank officers may be liable in a lawsuit brought by the Federal Deposit Insurance Corp. (FDIC) while the directors escaped liability, in a new ruling from the Fourth Circuit Court of Appeals interpreting...more

Poyner Spruill LLP

Bank Boards and Corporate Officers Review your Policies and Procedures: Business Judgment Rule Protections May Be Loosening

Poyner Spruill LLP on

A recent decision from the Fourth Circuit, Federal Deposit Insurance Corporation v. Rippy, No. 14-2078 (4th Cir. Aug. 18, 2015), may signal a weakening of the business judgment rule’s long-standing protections for corporate...more

The Volkov Law Group

The Justice Department and Individual Criminal Prosecutions

The Volkov Law Group on

Recently, Attorney General Holder and DAAG Marshall Miller from the Criminal Division delivered important speeches on the Justice Department’s initiative to increase individual criminal prosecutions....more

Baker Donelson

Business Judgment Rule in Georgia: Not a "Get Out of Jail Free Card" for Officers and Directors

Baker Donelson on

The Georgia Supreme Court has adopted the Business Judgment Rule with a very important nuance that requires officers and directors to not only be prepared when making their decisions but to document their preparations in...more

Morrison & Foerster LLP

Individual Liability: What’s Behind The Headlines?

It’s been open season on financial institutions since the 2008-2009 financial crisis (“Financial Crisis”). State and federal prosecutors and regulators are competing with each other for press coverage of their latest consent...more

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