d******d
发帖数: 1037 | 1 Bank of America Corporation Sues FDIC Over Taylor Bean Mortgage Losses-
Reuters
Wednesday, 20 Oct 2010 11:39am EDT
Reuters reported that Bank of America Corporation has sued the Federal
Deposit Insurance Corp (FDIC) over $1.75 billion of investor losses mainly
from the 2009 collapses of a large regional bank and large mortgage lender.
The lawsuit concerns the FDIC's role as receiver for the main banking unit
of Alabama's Colonial BancGroup Inc, and the implosion of Taylor, Bean &
Whitaker Mortgage Corp, where federal prosecutors say a multi-billion dollar
mortgage fraud took place. Bank of America is trustee for notes issued by
Taylor Bean's Ocala Funding LLC unit. In a complaint filed this month in
Washington, D.C. federal court, Bank of America said the FDIC has wrongly
denied claims by Ocala noteholders to recover from Colonial Bank and an
Illinois lender also in receivership, Platinum Community Bank. Bank of
America accused executives at Taylor Bean, Colonial and Platinum of having
fraudulently schemed to double and triple pledge mortgages and steal assets
to hide their faltering conditions as the housing market declined. |
|
