"In the past, it's been the CEO or C-suite executives or shareholders that have taken the pain and the boardroom has been largely shielded from regulatory action," Mills said. "This is the Fed taking a big step into the boardroom and telling all directors that their actions are going to have consequences. I think you're going to see a change in the makeup of some boards to make sure they have the expertise necessary to perform their oversight functions of these companies."

Source: Los Angeles Times February 06, 2018 02:15 UTC