A federal appeals court in California dealt the Office of Thrift Supervision its second defeat this year, overturning a 1993 order banning a former thrift executive from the banking industry.

The Ninth U.S. Circuit Court of Appeals agreed with regulators that Young Il Kim was careless in his management of failed Delta Savings Bank in Los Angeles. But characterizing his actions as minor violations, it ruled that his conduct, "certainly does not justify the imposition of such a draconian measure as a permanent prohibition order."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.