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Review of the Failure of Allied Bank

After more than 100 years in business, Arkansas-based Allied Bank failed in 2016, resulting in an estimated $6.9 million loss to the Deposit Insurance Fund. In accordance with the Dodd-Frank Act, we conducted an in-depth review of the bank's failure. Allied Bank failed because its corporate governance weaknesses allowed management officials to dominate the bank's affairs and allegedly engage in insider abuse

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