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Federal Deposit Insurance Corporation As Receiver For Colonial Bank v. Chase Mortgage Finance Corp. et al

  1. July 18, 2022

    Credit Suisse Pays FDIC $19.35M In Colonial Bank RMBS Deal

    A Credit Suisse unit has paid more than $19 million to the Federal Deposit Insurance Corp. as part of a settlement of legal claims brought over allegedly toxic residential mortgage-backed securities sold to the now-defunct Colonial Bank in the lead-up to its 2009 failure.

  2. April 18, 2022

    Banks Challenge FDIC's $624M Sale Calculation In RMBS Suit

    The Federal Deposit Insurance Corp. is unfairly using a post-sale refund deal to score more damages in a long-running suit over the sale of mortgage backed securities, according to two bank subsidiaries it has sued.

  3. March 12, 2020

    RBS Sees Some Claims Cut From Colonial RMBS Sale Suit

    A New York federal judge has dismissed some of the claims against RBS Securities in a long-running Federal Deposit Insurance Corp. suit over the sale of mortgage-backed securities to now-defunct Colonial Bank, saying RBS didn't underwrite the securities at issue.

  4. October 04, 2018

    Bank Units Urge Judge To Deny FDIC A Redo In Colonial Suit

    Wells Fargo and First Horizon units told a New York federal judge on Wednesday that the Federal Deposit Insurance Corp. is leaning on a suspect state regulator policy statement as part of a misguided effort to salvage dismissed claims against them in a suit over the sale of residential mortgage-backed securities to now-defunct Colonial Bank.

  5. March 05, 2018

    Banks Beat Some New Claims In Colonial RMBS Fight

    A New York federal judge on Friday dismissed some newly added claims in a Federal Deposit Insurance Corp. lawsuit against several prominent investment banks over the sale of residential mortgage-backed securities to now-defunct Colonial Bank, saying most of the claims are time-barred.

  6. November 07, 2017

    FDIC Fights Banks' Bid To Slip Colonial RMBS Claims

    The Federal Deposit Insurance Corp. asked a Manhattan federal court Monday to keep the agency's updated legal claims against several investment banks fully intact for their roles in selling risky residential mortgage-backed securities to Alabama's since-failed Colonial Bank.

  7. September 02, 2014

    High Court Decision Time-Bars $388M MBS Suit, Judge Rules

    Citigroup Inc. and other banks won an effective end Friday to the Federal Deposit Insurance Corp.'s claims that their sale of $388 million in bad MBS helped ruin Colonial Bank, when a New York federal judge ruled that a recent Supreme Court decision meant the case was filed too late.

  8. July 07, 2014

    Citi Says High Court Ruling Dooms $388M MBS Suit

    Citigroup Inc. and others asked a New York federal judge Thursday to dismiss allegations they helped push Colonial Bank over a cliff by selling it $388 million in poor-quality mortgage-backed securities, saying the suit is doomed by a new U.S. Supreme Court ruling setting stricter limits on statutes of limitations.

  9. September 27, 2013

    JPMorgan, Citi Can't Ditch FDIC Suit Over Colonial MBS Sales

    JPMorgan Chase & Co., Citigroup Inc. and other major lenders lost a bid Friday to dismiss the Federal Deposit Insurance Corp.'s suit accusing them of duping now-defunct Colonial Bank into buying $388 million worth of doomed mortgage-backed securities.

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