FDIC Sues Former Directors of Failed Illinois Bank

by Hugh Collins on Nov.02, 2010, under Towing

The Federal Deposit Insurance Corp sued 11 former executives and directors of a failed bank as it works to recover as much as $2 billion suffered by one of its funds during the financial crisis.

The FDIC filed the lawsuit in the U.S. District Court of Chicago, Reuters reported. It accuses former officials of Heritage Community Bank of negligence, gross negligence and breach of fiduciary duty….

Continue reading FDIC Sues Former Directors of Failed Illinois Bank

FDIC Sues Former Directors of Failed Illinois Bank originally appeared on DailyFinance on Tue, 02 Nov 2010 07:50:00.

Filed Under: Real Estate, Credit, Small Business