FOIA

Professional Liability Settlement Agreements

The purpose of the FDIC professional liability program is to recover funds for FDIC receiverships and to hold accountable directors, officers, and professionals who caused losses to insured depository institutions ("IDIs") that are later placed in FDIC receivership. The FDIC conducts a thorough investigation into potential professional liability claims arising from every IDI failure but pursues claims only if they are both meritorious and expected to be cost-effective. Pursuit of these claims maximizes recoveries for creditors of the failed bank receivership, including uninsured depositors and the deposit insurance fund. Entering into a settlement of those claims may avoid costly and protracted litigation over the claims and result in greater recoveries. The FDIC will publish the terms and conditions of all settlements as they become available and the material will be updated regularly.

For additional information see: Professional Liability Program.

Professional Liability Settlement Agreements since 2008