Jeremy Kress on Bank Boards

Jeremy Kress, assistant professor of business law at the University of Michigan Ross School of Business, joins the Business Scholarship Podcast to discuss his article Who’s Looking Out For The Banks?. Kress examines the risk of exploitation that national banks face when they are part of financial conglomerates whose nonbank affiliates might seek to benefit from banking subsidies. He locates this risk in director overlap between the boards of banks and their parent companies and proposes reforms to bolster the independence of bank subsidiaries’ boards.