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On being a bank director
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Bank Director
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October 1, 2002
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Copyright informationCopyright Bank Director Fourth Quarter 2002. Provided by ProQuest LLC. (Hide copyright information)
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On a daily basis, we are learning about fraudulent or irresponsible activities in some of America's largest companies. And, we are learning that, in many cases, the banks are accused of being a part of the frauds and accounting tricks that were committed. At a minimum, they are accused of turning a blind eye to unethical or crooked activities.
The reports of wrongdoing probably make every bank director wonder why he or she agreed to assume the risk of becoming a board member. Having second thoughts about accepting a board seat is more likely if a director is serving on the board's audit committee. The personal liability exposure for bank directors continues to escalate. Regulators and the ...
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