Portfolio Manager's Message to Citigroup, Bank of America, & JP Morgan: "Stop Protecting Director Misconduct."

Annuity News Now

Harrington Investments, Inc., (HII) a socially responsible investment advisory firm has filed shareholder resolutions calling on Citigroup, Bank of America, and JP Morgan Chase to stop indemnifying directors against civil and criminal liabilities. 

“The next time one of these banks commits a crime, their directors would not automatically have their defense paid for with shareholder funds,” said John Harrington, President/CEO of Harrington Investments.

It is the fiduciary responsibility of corporate directors to ensure that publicly traded corporations have adequate oversight and legal compliance measures in place. Failure to do so is negligence and should be considered criminal neglect,” added Harrington.

“These are serious issues that need to be taken seriously.  Nothing short of our national security is on the line,” concluded Harrington.

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