Mealey's Banking & Finance - Deposit Insurance Doesn't Cover Claim, Federal Judge Determines

CHICAGO - The denial by the Federal Deposit Insurance Corp. in its corporate capacity (FDIC-C) of a claim for deposit insurance on a failed bank's accounts "was not arbitrary or capricious," a federal judge in Illinois held Feb. 7, granting the FDIC-C's motion for summary judgment and denying the plaintiff's motion for summary judgment (Dennis Pantano, et al. v. Federal Deposit Insurance Corp., No. 12-3951, N.D. Ill.; 2014 U.S. Dist. LEXIS 15431).

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