United States Second Circuit
National Credit Union Administration Board v. U.S. Bank National Association , 17‐756
Affirmed that federal regulators that had liquidated five corporate credit unions lacked legal standing to assert certain claims related to bad investments. After the liquidation, the independent federal agency that regulates and insurer's credit unions sued two banks over mortgage‐backed securities investments that had gone sour. On appeal, the Second Circuit held that the agency lacked derivative standing to bring certain claims against the banks.
Appellate Information
- Published 2018/08/02
Judges
- Cabranes
Court
- United States Second Circuit