FDIC's Suit Against Bank's Loan Committee Can Continue, Judge Rules

FDIC's Suit Against Bank's Loan Committee Can Continue, Judge Rules

CHICAGO - A federal judge in Illinois on Nov. 22 refused to dismiss the Federal Deposit Insurance Corp.'s suit alleging that the members of a bank's loan committee acted negligently with regard to the bank's loans, ruling that the defendants' statute of limitations arguments fail (Federal Deposit Insurance Corp. v. Elbert Elmore, et al., No. 13-1767, N.D. Ill.; 2013 U.S. Dist. LEXIS 166259).

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