Disclosure of privileged communications and work product to regulators.

Summary

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Office of Comptroller of the Currency

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Extract

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Disclosure of privileged communications and work product to regulators.

Once it has waived the privilege and work product shield as to the OCC, a Bank may be precluded from asserting those protections against adversaries in downstream or collateral disputes involving the Bank and private litigants.

This article presents a brief analysis of the legal implications of revealing to federal bank regulators information internal to a Bank and otherwise protected by the attorney-client privilege (the "privilege") or the work product doctrine. The question of disclosure to regulators, in particular the Office of Comptroller of the Currency ("OCC"), presents not just legal issues, b...

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