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Investment Banks Keep Fighting FDIC After 2nd Circ. Defeat

Law360, New York (September 18, 2017, 3:06 PM EDT) -- Investment banks that sold or underwrote toxic mortgage-backed securities have again asked a New York federal court to reject the Federal Deposit Insurance Corp.’s suit to win damages on behalf of two failed banks, saying the case for dismissal remains strong even after the Second Circuit brought the lawsuit back earlier this year.

The financial firms, including affiliates of Deutsche Bank AG, Credit Suisse Group AG, Royal Bank of Scotland Group PLC, UBS AG and HSBC Holdings PLC, are fighting an effort by the FDIC to...
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