Seven lawsuits filed by the National Credit Union Administration Board will move forward against banks that sold residential mortgage-backed securities (RMBS) after a federal judicial panel refused to coordinate them with similar cases in Kansas.
The board, an independent government regulatory agency, brought the suits last year on behalf of four liquidated credit unions that had purchased the securities. They accuse the defendant banks, as underwriters and issuers, of misstating the risks of those offerings.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
