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.
April 20, 2018
The Federal Deposit Insurance Corp. has urged a New York federal judge not to drop its suit alleging Citibank, U.S. Bank and Bank of New York Mellon mishandled residential mortgage-backed securities and cost a Texas bank $695 million, saying Citibank's refusal to sign off on the claims out of its own self-interest shouldn't prevent them from moving forward.
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.
September 18, 2015
A New York federal court Thursday denied Citibank NA's bid to relate the Federal Deposit Insurance Corp.'s suit over the bank's alleged failure as a trustee for mortgage-backed securities, to a second suit accusing the bank of mishandling MBS in pooled loans.
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.