Aligning National Bank Priorities with the Public Interest: National Benefit Banks and a New Stakeholder Approach

Banks have particular characteristics that set them apart from other business entities, including being more highly leveraged, benefiting from government safety nets, and generating massive negative externalities when they fail. These attributes mean that in addition to shareholder interests, bank directors should be allowed to carefully consider the interests of nonshareholders, such as creditors, taxpayers, and the overall economy, when making decisions. While directors of banks in states that have enacted constituency statutes may be allowed to consider nonshareholder interests, no federal act expressly allows directors of federally chartered banks to consider such interests. Moreover, to date, thirty‐seven states have enacted legislation to allow for the formation of public benefit corporations that require directors to consider the interests of nonshareholders. No federal law provides a clear path for federally chartered banks to do this. This article proposes dual federal legislation that would (1) enable directors of all federally chartered banks to expressly consider nonshareholder constituents when making decisions and (2) allow for the formation of national benefit banks that would require directors to consider nonshareholder interests in their decision‐making.     

Detection of nitro-organic and peroxide explosives in latent fingermarks by DART- and SALDI-TOF-mass spectrometry

The ability of two mass spectrometric methods, surface-assisted laser desorption/ionization-time of flight-mass spectrometry (SALDI-TOF-MS) and direct analysis in real time (DART-MS), to detect the presence of seven common explosives (six nitro-organic- and one peroxide-type) in spiked latent fingermarks has been examined. It was found that each explosive could be detected with nanogram sensitivity for marks resulting from direct finger contact with a glass probe by DART-MS or onto stainless steel target plates using SALDI-TOF-MS for marks pre-dusted with one type of commercial black magnetic powder. These explosives also could be detected in latent marks lifted from six common surfaces (paper, plastic bag, metal drinks can, wood laminate, adhesive tape and white ceramic tile) whereas no explosive could be detected in equivalent pre-dusted marks on the surface of a commercial lifting tape by the DART-MS method due to high background interference from the tape material. The presence of TNT and Tetryl could be detected in pre-dusted latent fingermarks on a commercial lifting tape for up to 29 days sealed and stored under ambient conditions.