The NCUA said Tuesday night that it will now move forward with its lawsuits against Wall Street investment banks it said sold toxic securities to corporate credit unions, causing their multi-billion dollar collapses.
The agency was reacting to a ruling from the U.S. 10th Circuit Court of Appeals that said the NCUA did fall under the federal "extender" statute that allowed the NCUA more time to file lawsuits in the collapse of the five corporate credit unions in the last years of the previous decade.
In a statement, Board Chair Debbie Matz said the NCUA was pleased with the court's decision.
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