With one lone exception , the FDIC has not yet itself pursued litigation against the directors and officers of a failed financial institution. However, the FDIC has already made it clear that it intends to assert its rights under FIRREA as the receiver of failed banks to take control of shareholders'...
The FDIC has authorized more than 50 lawsuits against
former directors and officers of failed banks, according to an October 8, 2010 Bloomberg article . But merely
because the lawsuits have been authorized does not necessarily mean we will see
50 lawsuits, as it appears that the FDIC approval was calculated...
In its latest failed bank lawsuit, the FDIC, in its
capacity as receiver of the failed County Bank of Merced, California, has filed
a complaint against five former officer of the bank. The FDIC's complaint was
filed in the United States District Court for the Eastern District of