Robert C. Lamonica

The “troubled condition” designation, an enforcement mechanism available to the federal bank regulators, often has consequences beyond the explicit scope of the other regulatory prohibitions it implicates. Often such a designation results in restrictions on a bank’s ability to accept brokered deposits even though its last CAMELS composite rating was 3 or better.

Partner Pinchus D. Raice, Chairman of Pryor Cashman’s Financial Institutions Group (FIG), and FIG Associate Robert C. Lamonica have written an informative legal update entitled "“Troubled Condition” Designation – A Trap for the Unwary Community Banker." To read the update, please click here.