March 21, 2019
A New York federal judge dumped the Federal Deposit Insurance Corp.'s $695 million residential mortgage-backed securities suit against three banks Wednesday, finding for the second time that the agency lacked standing to bring claims of improper conduct against trustees of the bundled mortgages.
March 14, 2018
The Federal Deposit Insurance Corp.'s failure to nab Citibank's signature on its claims in a $695 million mortgage-backed securites suit should stop the suit in its tracks, the defendant banks told a New York federal judge in a brief on Tuesday, saying the amended complaint should be tossed.
December 11, 2017
The Federal Deposit Insurance Corp. on Friday urged a New York federal judge to let its cases against Citibank, U.S. Bank and Bank of New York Mellon on behalf of a failed Texas bank go ahead even though Citibank has refused to ratify the cases, saying it has fixed the legal issues that resulted in the suits' dismissal without Citibank's signature.
August 20, 2015
The Federal Deposit Insurance Corp. on Wednesday sued Citibank NA and U.S. Bank NA alleging they failed in their roles as trustees for residential mortgage-backed securities held by a failed bank that contributed to a $695 million loss to the regulator's insurance fund.