Bold 10th Circ. Opinion Muddies FIRREA Challenges

Law360, New York (August 26, 2014, 8:05 PM EDT) -- The Tenth Circuit last week gave a strong argument as to why a recent U.S. Supreme Court decision has no bearing on one federal agency's ability to sue over soured mortgage-backed securities, but that won't stop big banks from trying to convince different courts otherwise, legal experts say.

The appeals court's opinion said a June high court ruling did not alter its original ruling that the National Credit Union Administration Board's suit against Nomura Home Equity Loan Inc. and a number of other MBS originators was not time-barred. 

The Supreme Court had found that a lawsuit by North Carolina residents under the...

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