FDIC Guidance on Golden Parachute Applications

On October 14, the FDIC issued a financial institution letter providing guidance on handling applications to make permissible golden parachute payments. The guidance: (i) clarifies the golden parachute application process for troubled institutions, (ii) specifies the type of information necessary to satisfy certification requirements, and (iii) highlights factors considered by staff when determining whether to approve a golden parachute payment. FDIC Guidance.