TITLE

Failed-Bank Owners Sue FDIC, Alleging It's Fickle

AUTHOR(S)
Barba, Robert
PUB. DATE
February 2010
SOURCE
American Banker;2/5/2010, Vol. 175 Issue F305, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article presents information about lawsuits being brought by investors against the Federal Deposit Insurance Company (FDIC) for investments they made in failed banks. One plaintiff Pethinaidu Veluchamy alleges that the FDIC acted capriciously and arbitrarily with an abuse of discretion in declining to approve a capital restructuring of the Mutual Bank in Harvey, Illinois that could have benefited the bank and investors.
ACCESSION #
47893573

 

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