Directors who sit on the boards of both a thrift and its holding company may not be held to a higher standard of corporate conduct than directors who sit on a single board, a federal appeals court has ruled.

The decision by the U.S. Court of Appeals for the District of Columbia Circuit came in a case involving the Office of Thrift Supervisionand Donald M. Kaplan, the former chief economist for the agency's predecessor, the Federal Home Loan Bank Board.

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