Duties and Responsibilities of Directors Comptrollers Handbook (section 501)

Directors are placed in positions of trust by the bank's shareholders, and both statute and common law place responsibility for the management of a bank firmly and squarely on the board of directors. The directors of a national bank may delegate the day-to-day routine of conducting the bank's business to their officers and employees, but they cannot delegate their responsibility for the consequences of unsound or imprudent policies and practices whether it involves lending, investing, protecting against internal fraud, or any other banking activity. The directorate is responsible to its depositors and shareholders for safeguarding their interests through the lawful, informed, efficient, and able administration of the institution.

Author: Comptroller of the Currency Administrato
Publisher: Createspace Independent Publishing Platform
Published: 10/31/2014
Pages: 34
Binding Type: Paperback
Weight: 0.23lbs
Size: 11.02h x 8.50w x 0.07d
ISBN: 9781502907684

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