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Federal Deposit Insurance Corporation › Personal Liability

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 -
Hudson Cook, LLP

True Lender Developments: Litigation and State Regulatory Actions

Hudson Cook, LLP on

Bank partnership lending programs have existed for years and have played a significant role in the growth of the online lending industry and the fintech sector. In a bank partnership lending program, a non-bank partner...more

BCLP

Counterpoint: Why Sane People Serve as Bank Directors

BCLP on

Bank directors have played a crucial role in the turnaround of the banking industry, an accomplishment that deserves recognition in light of the fact that it has been done under tremendous regulatory burden and tepid economic...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

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

Manatt, Phelps & Phillips, LLP

Georgia Supreme Court: Business Judgment Rule Valid, But Bank Officers Can Still Be Liable

Manatt, Phelps & Phillips, LLP on

In the context of Federal Deposit Insurance Corporation (FDIC) litigation against the former directors and officers of a failed bank, the Georgia Supreme Court has upheld the validity of the business judgment rule in the...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?

Morrison & Foerster LLP on

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

Proskauer - Insurance Recovery & Counseling

First Circuit Orders AIG To Advance Defense Costs In FDIC Suit Because Of “Likelihood Of A Remote Possibility Of Coverage”

Proskauer - Insurance Recovery & Counseling on

On March 31, 2014, the First Circuit reaffirmed the breadth of an insurer’s duty to defend. In W Holding Co., Inc. v. AIG Ins. Co.-Puerto Rico, No. 12–2008, 2014 WL 1280246 (1st Cir. Mar. 31, 2014), the appellate court ruled...more

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