MEMORANDUM AND ORDER Plaintiff Nassau Financial Federal Credit Union brings claims against the Board of the National Credit Union Administration (“NCUA”), a federal agency, and the United States, challenging the NCUA’s settlement of a group of loans in which Nassau held a substantial participation interest. Defendants move to dismiss under Federal Rule of Civil Procedure 12(b)(1). For the reasons that follow, the motion is granted. BACKGROUND The following facts are drawn from the complaint and are assumed true for purposes of this order. In July 2009, plaintiff entered into a loan participation agreement with the League of Mutual Taxi Owners Federal Credit Union (“LOMTO”). Compl. 13 (Dkt. #1); see id., Ex. 1, at 16-40 (Dkt. #1-5). The agreement permitted plaintiff to buy participation interests in certain loans held by LOMTO. Compl., Ex. 1, at 16. It also stated that LOMTO would act in loan administration and servicing matters “as a trustee with fiduciary duties to hold the Participation Interests in the loan(s) for the benefit of the Participants.” Id. at 25. Between 2011 and 2014, LOMTO made nineteen loans totaling about $25 million to corporate entities associated with three members of the Tudor family: Adrian Tudor, Florina Tudor and Maria Tudor. Compl. 14. The loans were secured in part by 105 City of Chicago taxi medallions. Id. at 15. Plaintiff purchased a 90 percent interest in each of five of these loans, totaling about $5 million. Id. at 14. Other credit unions purchased interests in several of the other loans. Ibid. LOMTO held all remaining interests and acted as the loans’ servicer. Id. at
14, 17. In 2015, the borrowers defaulted on the loans. Id. at 15. They then entered into a forbearance agreement in which they agreed to secure the loans with certain commercial real estate. Ibid. But they defaulted again in 2016, at which point LOMTO sought to foreclose on the loan collateral in state court. Id. at 18. Due to solvency concerns, the NCUA placed LOMTO under conservatorship in 2017 and into involuntary liquidation in 2018. Id. at 16; see id., Ex. 1, at 4. The NCUA became LOMTO’s liquidating agent and assumed its duties as the servicer of the nineteen loans. Compl.
