Thursday, July 11, 2013

U.S. District Court Dismisses NCUA's Lawsuit Against Barclays

Barclays Plc won the dismissal of a NCUA lawsuit over the sale of more than $555 million of mortgage-backed securities to two failed corporate credit unions.

U.S. District Judge John Lungstrum in Kansas City, Kansas said the National Credit Union Administration waited too long by not filing its complaint until September 25, 2012. The deadline was March 20, 2012, three years after the NCUA had been named conservator of the U.S. Central Federal Credit Union and the Western Corporate Federal Credit Union.

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1 comment:

  1. AnonymousJuly 11, 2013 at 11:22 AM

    The horse is gone, yet they are still in charge of both the barn and its fire insurance.

    ReplyDelete

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