Federal Regulator Poised To Sue Some Banks NCUA Has Sued
Some of the banks that NCUA has sued in at attempt to recoup losses from mortgage backed securities sold to corporate credit unions are among those facing lawsuits from the Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac.
According to a story in The New York Times, the suits will be filed no later than Sept 6 in order to meet a legal deadline. The paper reported that Goldman Sachs is among the legal targets, along with Bank of America, Deutsche Bank, and J.P. Morgan Chase among others.
NCUA has suits filed against Goldman Sachs and J.P. Morgan Chase along with RBS Securities.