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When the Sky is Falling, Don’t Be Chicken Little by Michael Nonaka
Covington & Burling LLP - Washington Office
D. Jean Veta
Covington & Burling LLP - Washington Office
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May 25, 2012
Previously published on May 10, 2012
For bank executives, crisis situations can take many forms. In the post-financial meltdown environment, there are an ever-growing number of crises that can arrive at your door. Increasing levels of scrutiny are being applied to banks, as demonstrated by President Obama’s State of the Union announcement of the creation of a mortgage fraud task force. Your bank does not have to be on the verge of failure to face a crisis. A bad examination, an inquiry from the SEC, a data security breach, a money laundering or lending discrimination allegation or a major compliance issue could make you feel like the sky is falling. Advance preparation can go a long way in helping you effectively sort through and address these issues. When your institution is faced with one - or increasingly a combination - of these issues, the key is not to lose your head.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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