Voice your opinion about the FDIC decision banning execs
Sonoma Valley Bank was the county’s only bank to collapse during the economic downtown. Recently, the Federal Deposit Insurance Corp. banned two of the former bank’s executives from the banking industry for “reckless, unsafe or unsound banking practices” and a “pattern of misconduct” that damaged the bank.
Lawsuits filed by shareholders and other investors say they lost roughly $70 million combined in the failure of the bank. The federal government lost at least $20 million in the bank’s collapse.
Regulatory laws provide a level of privacy that defies explanation for banning the banking executives. Is this practice fair?
Numerous Sonoma Valley residents were shaken by the bank’s collapse. Let us know how you feel about this latest development by voting in the new poll posted on the Sonoma Valley home page.