Maryland Bankers Association and Ramon Looby Settle Lawsuit Over Wrongful Termination Claims

Strategic Insights -

Ramon Looby, the former president and CEO of the Maryland Bankers Association, had filed a lawsuit against the nonprofit in January, alleging wrongful termination and denial of severance pay after the group refused to pay him $321,000 in severance following his firing in October 2024. Looby claimed he was fired without cause and that the nonprofit's counterclaim of financial mismanagement was unfounded. The settlement, though dismissed with prejudice, allows the case to be reopened at any time to enforce the stipulated terms.

Key Takeaways:

  • The Maryland Bankers Association and Ramon Looby have agreed to dismiss their claims against each other, ending the lawsuit before a scheduled pre-trial conference in December.
  • Looby had filed a lawsuit in January, alleging wrongful termination and denial of severance pay after the nonprofit refused to pay him $321,000 in severance following his firing in October 2024.
  • Looby claimed he was fired without cause and that the nonprofit's counterclaim of financial mismanagement was unfounded, citing his "excellent" work performance and leadership during the COVID-19 pandemic.
  • The Maryland Bankers Association alleged in its counterclaim that Looby mismanaged finances and spent resources "extravagantly," charging personal expenses to the nonprofit and failing to follow organizational policies and procedures.
  • The settlement is pursuant to Maryland Rule 2-506(b), which allows the case to be reopened at any time to enforce the stipulated terms.
  • The settlement comes at an early stage in the litigation, cancelling a pre-trial conference scheduled for December.
  • Looby's complaint alleged that he received positive performance reviews in July 2024, as well as a $12,000 salary increase and a $21,000 bonus in August 2024, but was terminated in October via a phone call.
  • The nonprofit's counter-complaint alleged that the organization learned of concerns about Looby's financial mismanagement in September, and after investigating, terminated Looby for cause in October.

Statistics:

  • $321,000: the amount Looby claimed the nonprofit refused to pay him in severance pay.
  • $12,000: the salary increase Looby received in August 2024.
  • $21,000: the bonus Looby received in August 2024.
  • July 2024: the month Looby received positive performance reviews.
  • August 2024: the month Looby received a $12,000 salary increase and a $21,000 bonus.
  • October 2024: the month Looby was terminated.
  • January: the month Looby filed his lawsuit against the nonprofit.

Sources:

  • BridgeTower Media, "Maryland Bankers Association and Ramon Looby settle lawsuit," (no date provided)
  • Maryland Bankers Association, "About Us," (no date provided)
  • Ramon Looby's complaint, "Ramon Looby v. Maryland Bankers Association," Anne Arundel County Circuit Court (January 2025)
  • Maryland Bankers Association's counter-complaint, "Maryland Bankers Association v. Ramon Looby," Anne Arundel County Circuit Court (February 2025)