Eleventh Circuit Upholds Directors’ Affirmative Defenses Based On FDIC’s Post-Receivership Conduct

Eleventh Circuit Upholds Directors’ Affirmative Defenses Based On FDIC’s Post-Receivership Conduct

The US Court of Appeals for the Eleventh Circuit recently issued the first appellate decision holding that, in actions brought by the Federal Deposit Insurance Corporation (FDIC), the officers and directors of failed banking institutions can assert affirmative defenses relating to the FDIC’s post-receivership conduct.

The FDIC Should Consider Updating Its Outdated Statement of Policy On Bank Stock Offerings

By | The Securities Edge | November 7, 2013
The FDIC Should Consider Updating Its Outdated Statement of Policy On Bank Stock Offerings

With the costs of compliance on the rise, we are seeing some significant consolidation in the banking industry, particularly among community banks. In a recent article on www.bankdirector.com, Rick Maroney writes that although bank M&A has been tepid thus far in 2013, some key drivers of M&A activity are starting to emerge and he predicts that we are likely to see increased merger and consolidation activity in the industry as smaller banks need to grow to remain viable.

Directors & Officers Insurance: Insured Vs. Insured Exclusion Unambiguously Precludes Coverage for FDIC Failed Bank Lawsuit

By | The D & O Diary | September 16, 2013
Directors & Officers Insurance: Insured Vs. Insured Exclusion Unambiguously Precludes Coverage for FDIC Failed Bank Lawsuit

One of the recurring D&O insurance coverage issues that has arisen during the current wave of failed bank litigation has been the question whether coverage for an action by the FDIC in its role as receiver of a failed bank against a failed bank’s directors and officers is precluded by the Insured vs. Insured exclusion found in most D&O insurance policies.