Mealey's Banking & Finance - Panel Affirms Dismissal, Says Borrowers Didn't Exhaust Administrative Process

Mealey's Banking & Finance - Panel Affirms Dismissal, Says Borrowers Didn't Exhaust Administrative Process

WASHINGTON, D.C. - The District of Columbia Circuit U.S. Court of Appeals on Jan. 31 affirmed the dismissal of a suit arising from a loan issued by a bank that failed, finding that borrowers were required to exhaust their administrative remedies under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) and were required to do so before filing their suit (Kim S. Westberg, et al. v. Federal Deposit Insurance Corp., et al., No. 13-5080, D.C. Cir.; 2014 U.S. App. LEXIS 1884).

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