Bank Corporate Governance Development – Directors and Officers –

U.S. Court Of Appeals For the Fourth Circuit Concludes That: (1) FDIC May Sue Directors and Officers Of Failed Bank Under North Carolina Law For Ordinary Negligence As Well As Gross Negligence And Breach Of Fiduciary Duty; And (2) Bank’s Directors Are Protected Against Personal Liability By An Exculpatory Provision In The Bank’s Articles. Link to pdf