Vedder Thinking | News Shareholder James M. Kane Recently Quoted in American Banker Article
May 1, 2017
James M. Kane, a Shareholder and Co-Chair of the firm’s Financial Institutions Group, recently commented on the outcome of Builders Bank’s law suit against the Federal Deposit Insurance Corp. in American Banker.
The article states that the bank, in an unusual move, sued the regulators after receiving a Camels rating of 4, which is the threshold at which an institution is considered a “problem bank.” Builders Bank’s victory was critical in a case that could potentially set a precedent for other financial institutions that feel they’ve been graded unfairly.
Mr. Kane commented on the rarity of the case. “Generally, the courts just refuse to hear those cases, saying that it was completely within the discretion of the bank regulatory agencies,” he said. “It could be a significant victory for the banking industry.”
To read the article in full, please click here.