Retailer calls the suit sensational, says financial institutions chose to incur breach costs.
Letter says insurance firms must charge for true costs.
The NCUA announced Aug. 30 it filed a suit in Federal District Court in Kansas two weeks earlier against another Wall Street firm that the regulator said sold faulty mortgage-backed securities to failed corporates U.S. Central Federal Credit Union and Western Corporate Federal Credit Union.
The NCUA won a big legal victory Aug. 27 when the U.S. 10th Circuit Court of Appeals in Denver ruled the regulator can proceed with its claims against Wall Street firms over mortgage backed securities sold to the failed U.S. Central Federal Credit Union.
Agency announces Friday it sued Morgan Stanley on Aug. 16 over fault mortgage-backed securities.
Major mortgage processor resolves complaints over robo-signing; settlement with 46 states and District of Columbia.
Credit union found not liable for continuing contract with JM Floyd after company says automatic renewal followed merger.