The NCUA said Tuesday night that it will now move forward with its lawsuits against Wall Street investment banks it said sold toxic securities to corporate credit unions, causing their multi-billion dollar collapses.
The agency was reacting to a ruling from the U.S. 10th Circuit Court of Appeals that said the NCUA did fall under the federal "extender" statute that allowed the NCUA more time to file lawsuits in the collapse of the five corporate credit unions in the last years of the previous decade.
In a statement, Board Chair Debbie Matz said the NCUA was pleased with the court's decision.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
