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Federal Deposit Insurance Corporation › Gross Negligence

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
King & Spalding

Georgia House Bill 192 – Codifying and Clarifying the Business Judgment Rule in Georgia

King & Spalding on

Georgia Legislature Acts to Nullify Georgia Supreme Court’s Decision in FDIC v. Loudermilk - After passing both the Georgia House of Representatives and the Georgia Senate, House Bill 192 is awaiting the signature of the...more

BCLP

Analysis of FDIC v. Loudermilk Decision

BCLP on

The FDIC’s lawsuit against former directors and officers of the failed Buckhead Community Bank, one of the most closely watched Georgia corporate governance cases in years, went to trial in October, 2016. The jury returned a...more

Manatt, Phelps & Phillips, LLP

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

Manatt, Phelps & Phillips, LLP on

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

Nossaman LLP

Limited Defenses Available Against FDIC As Receiver

Nossaman LLP on

As of August 2013, since the fallout from the recent financial crisis, the FDIC as receiver for failed banks has brought suit against former directors and officers of 76 failed institutions. These lawsuits are based on...more

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