When boards meet, the minutes recording the discussion carries a significant burden. It’s a delicate balance, as the minutes should include proof the directors have exercised their fiduciary duty and exclude fodder for lawsuits and enforcement actions. What a financial institution’s board records in its minutes can prove particularly valuable to investigators and attorneys if the bank finds itself in the thralls of an investigation or the subject of an investor lawsuit. Sticking to best practices can not only provide a historical record of the company, but also offer a valuable cloak of protection via proof that directors provided fiduciary...