Kathlyn L. Farrell

Serving on a bank board in the U.S. has never been a low-risk proposition. But now, after Wells Fargo’s sales practices consent orders, enforcement actions, civil money penalties, and subsequent investigations, the responsibilities of a bank board member have come under the highest scrutiny ever. Boards must oversee complex organizations with significant risks surrounding consumer protection, liquidity, interest rates, credit, and, in today’s environment, culture and conduct.

Serving on a bank board in the U.S. has never been a low-risk proposition. But now, after Wells Fargo’s sales practices consent orders, enforcement actions, civil money penalties, and subsequent investigations, the responsibilities of a bank board member have come under the highest scrutiny ever. Boards must oversee complex organizations with significant risks surrounding consumer protection, liquidity, interest rates, credit, and, in today’s environment, culture and conduct.