Mealey's Banking & Finance - Federal Judge Dismisses Claims Arising From Allegedly Fraudulent Transactions

NEW ORLEANS - A federal judge in Louisiana on Feb. 27 granted a motion to dismiss filed by the Federal Deposit Insurance Corp., as the receiver for a failed bank (FDIC-R), in a suit alleging that the FDIC and others caused a consumer to lose $84,000 by allowing funds to be fraudulently transferred from his account (Joseph Grubaugh v. Central Progressive Bank, et al., No. 13-3045, E.D. La.; 2014 U.S. Dist. LEXIS 25158).

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