LexisNexis® Legal Newsroom
FDIC Lawsuits: Coming Soon to Failed Banks Near You?

The FDIC has authorized more than 50 lawsuits against former directors and officers of failed banks, according to an October 8, 2010 Bloomberg article . But merely because the lawsuits have been authorized does not necessarily mean we will see 50 lawsuits, as it appears that the FDIC approval was calculated...

FDIC Sues Failed Bank's Former Directors and Officers

If the lawsuit filed on Monday is any indication, the long-anticipated FDIC litigation against failed banks may have arrived. On November 1, 2010, the FDIC filed a lawsuit in the Northern District of Illinois against eleven former directors and officers of Heritage Community Bank, a lending institution...

Are Bank Directors and Officers Entitled to Less Business Judgment Rule Protection Than Other Corporate Directors and Officers?

Are bank directors and officers sufficiently different from directors and officers of ordinary business corporations that the protections of the business judgment rule available to other directors and officers are not available to protect directors and officers of a bank? That is a question that Northern...

Rogue CFO III – Background Checks

by David Carroll Perform Background Checks . It seems obvious. Why would a company not want as much information about a candidate for its CFO position that it can legally obtain? But this oversight is common. Too many smaller companies hire CFOs and other senior people without a background check,...