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  • MEALEYS HEADLINES
  • Panel Affirms Banks' Losses Are Not Covered Under Financial Institution Bonds

02/02/2012 10:46:48 AM EST

Panel Affirms Banks' Losses Are Not Covered Under Financial Institution Bonds

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LexisNexis® Mealey's™ Daily Legal News

ST. PAUL, Minn. - Banks' loan losses stemming from a financial misrepresentation scheme are not covered under financial institution bonds, a Minnesota appeals panel affirmed Jan. 30 (Alerus Financial National Association, et al. v. St. Paul Mercury Insurance Company, et al., No. A11-680, Minn. App.; 2012 Minn. App. Unpub. LEXIS 100). Full story on lexis.com