Jan
18

Former Bank CEO’s Son Did a “Large Portion” of Georgian Bank’s Appraisals

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Interesting….. Should the FDIC sue bank directors and executives if they prove regulators’ assertions of “unsafe and unsound banking practices” and wrongful acts?

Here are some details on the history of Georgian Bank:
http://www.portfolio.com/industry-news/banking-finance/2010/01/11/failed-banks-may-face-litigation-wave/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Industries+(Industry+News)

Obviously, Georgian bank didn’t have a proper appraisal process management plan in place. If you feel that your bank could use some help with addressing appraisal independence (compliance with Part 323 of FDIC Laws and Regulations) give me a call. Integra can help.

Michael Dodds, MAI, CCIM, MRICS
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