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Roque De La Fuente II v. FDIC

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In this case, the Ninth Circuit U.S. Court of Appeals reviewed an appeal of an FDIC Enforcement Order regarding alleged Reg O violations from a former bank director who was removed from banking for life.

Bankers will find this case of interest because it sheds light on the analysis to be applied in determining whether an entity (whether a trust, corporation, etc.) should be deemed a "related interest" of an insider. It explores the various facets of the test for "control".

In this instance loans were made to trusts created by the director, his relatives and associates. The Court reviewed each transaction and indicated how Reg O came into play with each.


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