Michael D. Landry, a bank officer, was prohibited by the FDIC for misleading the bank's board and causing significant financial losses. Landry argued that the FDIC's method for appointing ALJs violated the Constitution. The FDIC claimed privilege over 97 documents, but the Board upheld it for 44 of them. The court clarified the procedural requirements for asserting privileges and privilege waiver. Landry's conduct created an abnormal risk of insolvency for the bank, and the FDIC's decision was supported by record evidence.
Landry v. Federal Deposit Insurance (2000)
United States Court of Appeals for the District of Columbia Circuit
340 U.S. App. D.C. 237, 204 F.3d 1125
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