FDIC: Bank's Officers, Directors Failed To Supervise Risky Lending Strategy

TACOMA, Wash. - The Federal Deposit Insurance Corp. on Nov. 18 sued former officers and directors of a failed bank in a Washington federal court, alleging that the defendants' failure to properly manage or supervise the bank's high-risk lending strategy ultimately led to the bank's failure (Federal Deposit Insurance Corp., as receiver for Westsound Bank, v. David K. Johnson, et al., No. 11-5953, W.D. Wash.). View today's headlines and listen to the latest podcast at www.lexisnexis.com/legalnews Do you have news to share? Interested in writing a commentary article? Email the Mealey News Desk at Mealeys@LexisNexis.com Full story on lexis.com