Legal Memorandum: Directors' Liability for FIRREA Violations

Issue: What legal resources address the specific liability of officers and directors when the corporation is facing FIRREA violations?

• M. Mazen Anbari, Banking on a Bailout:  Directors’ and Officers’ Liability Insurance Policy Exclusions in the Context of the Savings and Loan Crisis, 141 U. Pa. L. Rev. 547 (1992).

• Civil and Criminal Liability of Officers, Directors and Professionals:  Bank & Thrift Litigation in the 1990’s (PLI Com. L. & Practice Course Handbook Series No. 595, 1991).

• Linda C. Elam, Financial Institution Deposit Insurance—Directors’ and Officers’ Liability Insurance Policies—Public Policy Regarding Regulatory Exclusions, 59 Tenn. L. Rev. 305 (1992).

• David B. Fischer, Bank Director Liability Under FIRREA:  A New Defense for Directors and Officers of Insolvent Depository Institutions—Or a Tighter Noose?, 39 U.C.L.A. L. Rev. 1703 (1992).

• Charles M. Moore & Leonard H. Plog, II, Honorary Directors of Financial Institutions:  More Liability, Less Honor, 109 Banking L.J. 233 (1992).

• Steven B. Price, FIRREA’s Statute on the Standard of Liability for Bank Directors and Officers:  "Through the Looking Glass" of New Textualism, 30 Idaho L. Rev. 219 (1994).

• Robert J. Rohrberger, Courts Conflicting on Bank Negligence Claims, N.J. L.J., Nov. 22, 1993 at 11.

• Lance A. Selfridge, D&O Exclusions Under Siege in Financial Institution Failures, 60 Def. Counsel J. 392 (1993).

• Jon Shepherd, The Liability of Officers and Directors Under the Financial Institutions Reform, Recovery and Enforcement Act of 1989, 90 Mich. L. Rev. […]