Litigation risk from op loss databases prompts draft bill
WASHINGTON, DC --
Some US financial institutions are contending that internal and external operational loss databases could expose them to substantially increased levels of litigation risk. Essentially, they are concerned that the contents of loss databases could be subpoenaed in legal proceedings against an institution, so that such a database could become a "smoking gun". The banks, which have flagged this point in their discussion with regulators and the Basel Committee on Banking SupervisionOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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