SCOTUS Allows NCUA MBS Lawsuit to Proceed, JPMorgan Poised to Settle, Citigroup Gets Summons
January 16, 2015
The U.S. Supreme Court this week denied a petition by major banks to reject a lower court decision to allow a National Credit Union Administration MBS lawsuit to go forward. The SCOTUS chose not to hear the case, a lawsuit filed by the NCUA to recover damages suffered by five now-defunct federal credit unions as a result of investments in non-agency MBS sold by the banks. The suit is...