Eastern Financial Florida Credit Union

• Eastern Financial Knew the CDO Risks, Says Wall Street

  By Michelle A. Samaad  |  May 29, 2012

  Several Wall Street banks and credit rating agencies are claiming that the former Eastern Financial Florida Credit Union knew the risks going in before investing in $100 million in collateralized debt obligations.

• Space Coast Stands by Position in $100 Million CDO Suit

  By Michelle A. Samaad  |  May 18, 2012

  The risks tied to collateralized debt obligations remains the focal point of Space Coast Credit Union’s lawsuit against Wall Street banks and credit raters.

• Wall Street Bank Suit: Eastern Financial Florida CU Aware of CDO Risks

  By Michelle A. Samaad  |  May 17, 2012

  Defendants tell judge in motion seeking dismissal that former credit union was well informed of risks in collateralized debt obligations.

• Space Coast Ordered to Mediation in CDO Case

  By Michelle A. Samaad  |  April 9, 2012

  In a $100 million lawsuit from Space Coast Credit Union against several Wall Street banks and credit rating agencies, a federal judge has ordered the parties to get together at a nonbinding mediation session.

• Space Coast, Wall Street Banks Ordered to Attend Mediation

  By Michelle A. Samaad  |  March 30, 2012

  More than a week after Space Coast Credit Union announced its mortgage securities lawsuit against several Wall Street banks, a judge ordered mediation.

• Space Coast Goes After Wall St.

  By Michelle A. Samaad  |  March 19, 2012

  The $3 billion Space Coast Credit Union recently filed suit against Merrill Lynch, Wachovia Capital, Barclays Capital, Lehman Brothers’ former CEO Richard Fuld and major U.S. credit rating agencies, Standard & Poor’s and Moody’s, alleging that the defendants caused more than $100 million in losses to Eastern Financial Florida...

• Space Coast CEO: Mortgage Securities Suit Not an Easy Battle

  By Michelle Samaad  |  March 12, 2012

  Doug Samuels, president/CEO of Space Coast Credit Union, knows its mortgage securities suit against several Wall Street giants may be an arduous undertaking.

• Space Coast Files $100 Million CDO Suit Against Banks

  By Michelle A. Samaad  |  March 12, 2012

  Florida CU names Wells Fargo, J.P. Morgan, Merrill Lynch and others for creating phony demand for residential mortgage loans.

• MIDFLORIDA’s Space Coast CU ‘Spin-off’ Aims to Build in Tampa Market

  By Michelle A. Samaad  |  December 13, 2011

  A merger by another name?

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  CUSO Can Falter After Mergers and Conservatorships

  By Michelle A. Samaad  |  July 24, 2011

  At one point, the high-flying commercial lending CUSO formed through Eastern Financial Florida Credit Union funded more than $200 million in business loans and served dozens of credit unions nationwide.