A recent Decision by the Board of Governors of the Federal Reserve System (the Board) sheds light on certain rights that banks may have when their employees engage in improper behavior when moving to a competing bank — and issues a stark warning for bank employees looking to do so. The Decision highlights the risk not only of civil litigation but also of an order of prohibition from further participation in banking under the Federal Deposit Insurance Act (the FDI Act), 12 U.S.C. § 1818(e). Continue reading >