The Clearing House Association has partnered with the American Association of Bank Directors (AABD) and the Independent Community Bankers of America (ICBA) in filing an amicus brief supporting business judgment rule protection of bank directors and officers in an action brought by the FDIC as receiver of a failed North Carolina bank. The brief, FDIC v. Rippy, highlights the public policy rationale for, and critical importance of, the protection from liability offered to directors and officers by the business judgment rule.
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