Banned Banker Wants FDIC Ban Stayed During Supreme Court Appeal (1)

A Michigan banker asked the Supreme Court to stay a potential lifetime ban from the industry and $125,000 fine while he appeals an appellate court decision upholding the penalties.

Harry C. Calcutt III, the former chief executive of Northwestern Bank, said in a Thursday application to the Supreme Court that he plans to appeal a June ruling from the U.S. Court of Appeals to the Sixth Circuit that allowed the Federal Deposit Insurance Corp.'s penalties over his loan handling to take effect.

A stay of the ban is necessary while his petition for a writ of certiorari is considered, he ...