Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Monday, May 27, 2024 | Back issues
Courthouse News Service Courthouse News Service

Fired Bank Executive Loses 4th Circuit Appeal

RICHMOND, Va. (CN) - The 4th Circuit affirmed dismissal of a former bank executive's wrongful termination claim against the Bank of America, which fired him for refusing to divulge a client's financial records to a caller who claimed to be an FBI agent.

The bank told Eugene Schweikert, a senior vice president, that it was firing him for using poor judgment and refusing to cooperate with the bank's internal and external investigations.

A three-judge panel held that Schweikert's claim is pre-empted by the "at-pleasure provision" of the National Bank Act. As a bank officer making $135,000 a year, Shweikert had been hired - and could be fired - at the discretion of the bank's board of directors.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.