Court Issues Mixed Decision in North Carolina Business Judgment Case
A federal appeals court today issued a mixed decision in the closely watched case of FDIC v. Rippy, which arose from the 2009 failure of a North Carolina community bank.
Browsing: Professional liability
Fourth Circuit Allows FDIC’s Negligence Claims Under Business Judgment Rule
If the parties do not reach a settlement, the case will return to the lower court for a trial on the issue of the FDIC-R’s claims of ordinary negligence and breach of fiduciary duty against the bank’s officers.
Who Should Have Personal Liability for Compliance Failures?
Courts and prosecutors are increasingly finding chief compliance officers personally liable for compliance lapses—and CCOs are watching carefully.
Gruenberg Sees Declines in FDIC D&O Claims
Professional liability claims by the FDIC against bank directors and officers peaked in 2013 and are expected to decline further, FDIC Chairman Martin Gruenberg told a conference of bank directors today.