RBS, Wells Fargo Can't Shake $1B Credit Union MBS Claims

Law360, New York (July 26, 2012, 5:03 PM EDT) -- A Kansas federal judge on Tuesday mostly upheld claims against units of Royal Bank of Scotland Group PLC and Wells Fargo & Co. related to about $1 billion in mortgage-backed securities losses that allegedly led to a credit union's collapse, finding the claims were timely.

Following the lead of a California federal judge earlier this year, U.S. District Judge Richard D. Rogers held that a federal law extending the statute of limitations applied to claims filed by the National Credit Union Administration Board, which is suing...
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