FDIC addresses three D&O lawsuit issues. (directors and officers)

FDIC addresses three D&O lawsuit issues. (directors and officers)

The FDIC only sues former officers and directors of failed banks after careful judgments and analysis of individual cases. The FDIC has sued at least one former officer of about 20% of failed banks since 1985, contrary to the rumor that the agency sues everyone. Most claims are for breach of fiducia...

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Veröffentlicht in:ABA banking journal 1992-10, Vol.84 (10), p.47
Hauptverfasser: Byrne, Alfred J.T, Bailey, Judith
Format: Magazinearticle
Sprache:eng
Schlagworte:
Attorneys
Bank directors
Bank failures
Bank officers
Bankers
Cost control
Criminal investigations
Criteria
Critics
Directors
False information
Insurance policies
Investigations
Liability insurance
Litigation
Loans
Professional liability
Professionals
Regulatory agencies
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Zusammenfassung:The FDIC only sues former officers and directors of failed banks after careful judgments and analysis of individual cases. The FDIC has sued at least one former officer of about 20% of failed banks since 1985, contrary to the rumor that the agency sues everyone. Most claims are for breach of fiduciary duty and are still being investigated. Cases are pursued only if the claim is cost-effective and factually and legally sound. Officer conduct is also assessed based on facts and circumstances existing during the officer's tenure.
ISSN:0194-5947
2161-5101