Applying Past Lessons To Present, Future FDIC Suits

Law360, New York (March 30, 2012, 1:07 PM EDT) -- As the U.S. banking system emerges from the financial crisis that began in 2007, the Federal Deposit Insurance Corp. (FDIC) has been intensifying its litigation activity associated with the failures of FDIC-insured institutions (banks) during that period.

To date, aggregate damages claimed in FDIC professional liability lawsuits against failed banks total $2.3 billion, with an average of $92 million and a median of $40 million. Most of these lawsuits include allegations of negligence, gross negligence and breach of fiduciary duty, with the alleged damages most commonly...
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