July 18, 2022
A Credit Suisse unit has paid more than $19 million to the Federal Deposit Insurance Corp. as part of a settlement of legal claims brought over allegedly toxic residential mortgage-backed securities sold to the now-defunct Colonial Bank in the lead-up to its 2009 failure.
April 18, 2022
The Federal Deposit Insurance Corp. is unfairly using a post-sale refund deal to score more damages in a long-running suit over the sale of mortgage backed securities, according to two bank subsidiaries it has sued.
March 12, 2020
A New York federal judge has dismissed some of the claims against RBS Securities in a long-running Federal Deposit Insurance Corp. suit over the sale of mortgage-backed securities to now-defunct Colonial Bank, saying RBS didn't underwrite the securities at issue.
October 04, 2018
Wells Fargo and First Horizon units told a New York federal judge on Wednesday that the Federal Deposit Insurance Corp. is leaning on a suspect state regulator policy statement as part of a misguided effort to salvage dismissed claims against them in a suit over the sale of residential mortgage-backed securities to now-defunct Colonial Bank.
March 05, 2018
A New York federal judge on Friday dismissed some newly added claims in a Federal Deposit Insurance Corp. lawsuit against several prominent investment banks over the sale of residential mortgage-backed securities to now-defunct Colonial Bank, saying most of the claims are time-barred.
November 07, 2017
The Federal Deposit Insurance Corp. asked a Manhattan federal court Monday to keep the agency's updated legal claims against several investment banks fully intact for their roles in selling risky residential mortgage-backed securities to Alabama's since-failed Colonial Bank.
September 02, 2014
Citigroup Inc. and other banks won an effective end Friday to the Federal Deposit Insurance Corp.'s claims that their sale of $388 million in bad MBS helped ruin Colonial Bank, when a New York federal judge ruled that a recent Supreme Court decision meant the case was filed too late.
July 07, 2014
Citigroup Inc. and others asked a New York federal judge Thursday to dismiss allegations they helped push Colonial Bank over a cliff by selling it $388 million in poor-quality mortgage-backed securities, saying the suit is doomed by a new U.S. Supreme Court ruling setting stricter limits on statutes of limitations.
September 27, 2013
JPMorgan Chase & Co., Citigroup Inc. and other major lenders lost a bid Friday to dismiss the Federal Deposit Insurance Corp.'s suit accusing them of duping now-defunct Colonial Bank into buying $388 million worth of doomed mortgage-backed securities.