FDIC Seeks $2.5B From Execs Of Failed Banks

Law360, New York (January 5, 2011, 12:59 PM EST) -- The Federal Deposit Insurance Corp. has announced that it authorized lawsuits against 109 directors and officers of failed banks through the end of 2010 in an attempt to claw back nearly $2.5 billion in funds allegedly lost to irresponsible loans.

The FDIC launched suits against 56 of those directors and officers in the final three months of 2010 alone, mostly in district courts, the agency said in a monthly report released Tuesday.

The lawsuits don’t include FDIC-led investigations of the leaders of the many failed banks...
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