Dec
03

FDIC Brings Second Legal Action against Directors and Officers of Failed Bank

By
– ABA Banking Journal

By Thomas P. Vartanian, Robert H. Ledig, and Lawrence Nesbitt, of the Financial Institutions Practice at Dechert LLP, Washington, D.C . For more information, see the author’s note at the end this article.

Industry observers have been waiting to see when bank failures arising out of the recent financial crisis would produce a wave of FDIC litigation similar to that seen in the early 1990s after the savings and loan crisis. With its second suit in recent months, FDIC has shown that it will aggressively pursue claims against directors and officers in connection with failed depository institutions.

FDIC has significantly increased its legal staff in the last few years and has engaged outside law firms to perform professional liability investigations and to conduct litigation in connection with recently failed institutions.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Be Sociable, Share!
    Categories : National News

    Comments are closed.