United Western Bank Can't Overturn OTS' Seizure

Law360, New York (March 7, 2013, 2:58 PM EST) -- United Western Bancorp Inc. lost its bid Tuesday to overturn the Office of Thrift Supervision’s 2011 seizure of purportedly insolvent United Western Bank, after a Washington federal judge ruled the decision was based on reasonable evidence of the bank’s murky financial condition.

According to U.S. District Judge Amy Berman Jackson, the OTS’ decision to put the bank into Federal Deposit Insurance Corp. receivership was within its authority under the Financial Institutions Reform, Recovery, and Enforcement Act and backed by evidence of a steady decline in the...
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