The Atlanta-based federal appeals court has ruled in part against the Federal Deposit Insurance Corp. in a decision with the potential to affect the FDIC’s cases across the country.
The Dec. 23 decision by the U.S. Court of Appeals for the Eleventh Circuit ruled that—contrary to what the FDIC has reportedly argued in all of its cases—bank directors and officers named as defendants may at least in some instances raise affirmative defenses based on the FDIC’s own conduct.
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