NCUA Seeks Sub To Bring RMBS Suit Against Deutsche Bank

By Jon Hill (October 9, 2018, 9:15 PM EDT) -- The National Credit Union Administration has urged a New York federal judge to allow the substitution of a new plaintiff to pursue claims against Deutsche Bank National Trust Co. over a number of residential mortgage-backed securities trusts, arguing that this swap would address standing issues highlighted in a similar suit brought by the agency against U.S. Bank.

The federal credit union regulator told U.S. District Judge Sidney H. Stein on Friday that it wants to sub in Graeme W. Bush, who was recently appointed at NCUA's request to serve as a separate trustee for some of the NCUA Guaranteed Notes, or...

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