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By Heather Anderson |
April 15, 2012
Lawyers for Wachovia Capital Markets filed documents in Kansas City Federal Court asking the court to dismiss NCUA’s securities fraud case against the firm now owned by Wells Fargo. Central to Wachovia’s argument is a question that has haunted the NCUA ever since the collapse of U.S. Central FCU: Why...
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By Heather Anderson |
April 9, 2012
Filings in suit over U.S. Central losses show bank says corporates knew the risks of investing in mortgage-backed securities.
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By Heather Anderson |
April 9, 2012
Former WesCorp Chief Financial Officer Todd Lane and his legal team have asked U.S. District Judge George Wu’s Los Angeles federal court to drop WestCorp's case against him, pay his legal fees and award him damages, according to legal documents filed Apr. 4. Lane also demanded a jury trial.
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By Marc Rapport |
April 4, 2012
In new counterclaim, Todd Lane also asks for agency's claims against him to be dropped and for his legal fees to be paid.
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By Marc Rapport |
March 14, 2012
California judge says they have to wait until their case is cleared and then can file as creditors of the failed corporate.
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By David Morrison |
March 4, 2012
Defendants in the litigation flowing from the liquidation of the Western Federal Corporate Credit Union have served notice that they want to depose the NCUA in the case.
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By Marc Rapport |
March 2, 2012
No financial terms were announced in the settlement between Timothy Sidley, the failed corporate’s former chief risk officer, and the NCUA.
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By David Morrison |
February 29, 2012
Defendants in the litigation flowing from the liquidation of Western Federal Corporate Credit Union have served notice to depose the NCUA Board.
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By Robert McGarvey |
February 28, 2012
Peril is threat to tax exemption, CUNA CEO tells NJCUL luncheon, while opportunity is Washington's largely positive view of credit unions.
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By Claude R. Marx |
July 24, 2011
The NCUA has sued RBS Securities for $685 million, alleging that that firm misled Western Corporate FCU (WesCorp) when it sold it mortgage-backed securities.
