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Home / News Stories / Bank cites TARP to avoid paying ‘golden parachute’ (access required)

Bank cites TARP to avoid paying ‘golden parachute’ (access required)

A bank’s ex-CEO who seeks severance pay lives to fight another day after a Norfolk federal judge rejected the bank’s preemptive strike. When Scott C. Harvard demanded the severance payment, Shore Bank, his former employer, filed suit in federal court seeking a declaratory judgment that it was not liable for severance pay under controlling federal law. Shore ...

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