The NCUA announced late Friday that it has filed its10^th lawsuit against Wall Street over $2.2 billion intoxic mortgage-backed securities that destroyed three majorcorporate credit unions.

The suit was filed in U.S. District Court in Kansas against J.P.Morgan Securities – as the successor-in-interest after its 2008purchase of Washington Mutual Bank – as well as WaMu Capital Corp.,Long Beach Securities Corp., and WaMu Asset Acceptance Corp.

The suit accuses the firms of violating federal and statesecurities lawas in the misrepresentation, omission of materialfacts and abandoning of underwriting guidelines in the MBS sales toU.S. Central, Western Corporate and Southwest Corporate, all of which weresubsequently liquidated by the NCUA.

“The damage caused by the actions of firms like WashingtonMutual has been extremely expensive to contain and repair, and thatjob isn't finished, yet,” said NCUA Board Chairman Debbie Matz.

“All the credit unions we supervise and insure have had to sharethis burden, so it's only right that the people who caused thedamage be required to pick up that burden, as well,” Matz said inthe agency's Friday evening announcement.

The agency had previously sued J.P. Morgan, as well as Barclays Capital, Credit Suisse, Goldman Sachs, RBS Securities, UBS Securities,Wachovia and Bear, Stearns, and has settled claims worth more than $170million with Citigroup, Deutsche Bank Securities and HSBC.

“Recoveries from these legal actions will further reduce the total lossesresulting from the failure of the three corporate credit unions,”the agency said, losses that all federally insured credit unionshave to cover through their assessments to the Temporary CorporateCredit Union Stabilization Fund.

The latest complaint is available online.The NCUA also has settled a series of complaints against former officers of WesCorp.