Ex-Omni Execs Face FDIC Suit Over Collapse
The regulator claimed in the suit that negligence and lax lending practices by the former officials prompted the bank’s failure in March 2009. The suit aimed to recover more than $37 million, including $24.5 million in losses allegedly sustained by the bank’s community development lending division, which targeted low-income buyers.
"The CDLD defendants approved the loss loans...
To view the full article, register now.