Bank Director and Officer Liability

Jennings Strouss - When Experience Counts

When regulatory agencies come knocking on your door, turn to a law firm that has the insight and experience required to manage the adverse consequences directors and officers of financial institutions may face.

The Jennings, Strouss & Salmon Bank Director and Officer Liability team has over 100 years of collective experience. Our attorneys are AV® rated and have been recognized by the American College of Trial Lawyers, Southwest Super Lawyers and The Best Lawyers in America®.

We counsel clients facing difficult and sensitive regulatory issues, helping them navigate federal, state and local laws implemented and enforced by various government agencies, including the Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Office of Thrift Supervision and state banking regulators.

As regulators continue investigations into failed financial institutions, the number of liability claims being filed against institution-affiliated parties (IAPs) is on the rise. We have firsthand experience defending the rights of directors, officers, stockholders, holding companies and other IAPs. Applying lessons learned from prior financial crises, we advise clients on how to ensure they are well protected, yet compliant, in the event issues arise. Our attorneys have also developed sound and constructive solutions for clients facing civil and criminal action due to the distress or failure of their financial institutions.

Our knowledge of federal and state regulations enables us to help our clients understand each action and respond appropriately. Our experience includes:

  • representing officers and directors facing federal and state investigations
  • providing advice regarding fiduciary duties owed by directors and officers
  • a complete review of D&O insurance and coverage claims
  • consulting with regulatory compliance agencies to limit personal and corporate exposure in troubled financial institutions
  • developing practical solutions for the impending dissolution of a financial institution
  • serving as an intermediary with the transition team of a financial institution that may be facing failure
  • resolving issues related to providing financial information to regulators
  • responding to subpoenas and other requests for information
  • providing alternative dispute resolution structures, such as arbitration and mediation
  • litigation defense of officers and directors against liability claims

Representative Engagements

  • Represented Savings and Loan executives in favorable resolution of issues with the OTS
  • Represented former bank officers and directors in favorable resolution with federal and state regulators
  • Represented officers and directors of failed financial institutions in settlement with insurance carriers
  • Represented employees of financial institution in resolving issues with state and federal regulators
  • Defended officers and directors in litigation over loss to failed financial institution