Banking and Finance

Recent Posts

FDIC Sues Former Officers of Failed California Bank
Posted on 31 Jan 2012 by Kevin M. LaCroix

In its latest failed bank lawsuit, the FDIC, in its capacity as receiver of the failed County Bank of Merced, California, has filed a complaint against five former officer of the bank. The FDIC's complaint was filed in the United States District... Read More

FDIC Lawsuits: Coming Soon to Failed Banks Near You?
Posted on 11 Oct 2010 by Kevin M. LaCroix

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... Read More

D&O Insurance: Subsequent IndyMac Bank Claims Interrelated with Prior Suit, Precluding Coverage for Later Claims under Second Insurance Program
Posted on 2 Jul 2012 by Kevin M. LaCroix

One of the perennial D&O insurance coverage questions is whether or not subsequent claims are "interrelated" with a prior claim and therefore deemed first made at the time of the prior claim. This question can be particularly critical when... Read More

Is the FDIC Staking Out Its Territory or Extending Its Borders?
Posted on 8 Oct 2010 by Kevin M. LaCroix

With one lone exception , the FDIC has not yet itself pursued litigation against the directors and officers of a failed financial institution. However, the FDIC has already made it clear that it intends to assert its rights under FIRREA as the receiver... Read More