Credit Union Regulator Unveils New JPMorgan Suit as Courts Mull Time Limits for Agencies' Claims

, The Litigation Daily


In its biggest suit yet, the National Credit Union Administration claims Bear Stearns sold $3.6 billion in shoddy mortgage-backed securities to four failed credit unions. But just like the cases that the Federal Housing Finance Agency brought against a slew of banks, the NCUA suits are in limbo as federal appeals courts weigh whether the agencies waited too long to sue.

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