Back to the Future: Evolving Demands on Corporations and Their Impact on Bank Directors
Anticipation of change is an important attribute for a bank director.
The Looming Issues Working Group of AABD’s Task Force on Mitigating Personal Liability of Bank Directors has released a report that zeroes in on changing expectations for corporations, including banks, that provides a roadmap for bank directors to consider.
There are six sections to the Working Group report:
- Responsibilities of the corporation to “stakeholders”
- Allocation of risk oversight
- Environment, social, and governance
- Artificial intelligence
- The platform corporation
The members of the Looming Issues Working Group are Tom Vartanian (Reporter), Paul Harris, and John Geiringer.
The Task Force consists of more than 50 highly experienced individuals who have served in high positions at one or more of the federal banking agencies and/or have advised numerous banks on bank regulatory and enforcement matters.
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