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#51078 - 12/30/02 04:18 PM Advisory Directors
Anonymous
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I'm researching the level of information that can be provided to an advisory director to ensure that his liability, as well as the bank's, is limited. Specifically - what kinds of information do you provide to your advisory directors? Specific financial information about loan customers? Just lists of new accounts and loans? No names, just summary numbers?

Some concern regarding the level of information given has been expressed, and I can only find general information regarding policy making in a search for info. Does GLBA enter into the picture?

Anyone have any advice or experience they're willing to share? Also, any research resources would be appreciated.

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General Discussion
#51079 - 12/30/02 04:33 PM Re: Advisory Directors
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HERE is an article relating to whether or not Advisory Directors are right for your situation. It's cites those tasks that cannot be assigned to Advisory Directors to avoid liability.

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#51080 - 12/30/02 05:04 PM Re: Advisory Directors
Anonymous
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Thanks for the quick response. I should have cited the research I had already done - that article was one I read. The article, nor anything else I can find including the OCC Director book referenced in the article, does not address the types and amount of information that the bank provides to the advisory director, and how that affects or doesn't affect their liability. If they know information that is restricted by GLBA - does that infer any additional liability on them?

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