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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.

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