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Board Approved Loan?

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What should I do if a loan was approved through the board of directors, and the bank president and senior lender change the approval without going back to the board? The policy says they cannot combine their loan authorities.

Either directly or anonymously inform your Chairman of the Board or your Head of Internal Audit or utilize your institution's whistleblower provision if there is one.

First published on 7/06/09

First published on 07/06/2009

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Filed under lending as: 

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