Cleveland judge says agency justified in denying an additional $250,000 in deposit insurance to church that lost funds in fraud case, collapse.
The NCUA on Sept. 23 filed nine federal lawsuits in New York against eight banks over the sale of nearly $2.4 billion in mortgage-backed securities to failed corporates Southwest Corporate Federal Credit Union and Members United Corporate Federal Credit Union.
Agency action in New York federal court on same day as NCUA goes after 13 global banks in Libor price-fixing scandal.
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.
In a sweeping order that delays proceedings on eight pending NCUA lawsuits against Wall Street banks over mortgage backed securities sold to failed corporate credit unions, U.S. District Judge John W. Lungstrum said April 29 that he will wait for the result of a related appeals court ruling, citing concerns...
Suit alleges misconduct, bad investments led to credit union's $16 million in losses.
Suits against Wachovia Capital Markets for U.S. Central, WesCorp losses combined into one.
Agency says corporate rescue fund can't count on recouping any losses in lawsuits against investment firms.