Fed’s Stance on Trade Secrets Could Mean More Banker Bans
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Historically, bank executives have faced civil liability for breach of contract and violations of state laws governing the misappropriation of trade secrets for misusing their employer’s confidential and proprietary information. However, a recent “notice of intent to prohibit” issued by the Federal Reserve indicates that bank executives may now face a much harsher consequence than mere civil liability for misappropriating their employers’ information — namely, a ban from the business of banking altogether.

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