Federal Deposit Insurance Corporation
U.S. Government: Agencies/Departments/Divisions | Federal Agencies
Recent News About Federal Deposit Insurance Corporation
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Appeals panel nixes bid to sue SmithAmundsen, Wolin & Rosen firms over Lake Michigan shore hotel buys gone bad
A panel of the U.S. Seventh Circuit Court of Appeals said the allegations don't show connection between lawyers and alleged fraud involving Michigan hotel properties -
Builders Bank's appeal of FDIC rating deemed waste of 'a judge's valuable time'
A federal appeals panel has denied a former bank’s attempt to sue the Federal Deposit Insurance Corp. and upbraided the plaintiffs for legal maneuvering that "wasted a judge’s valuable time.” -
Appeals panel: Lawyer who defended Wheatland Bank officers can't force bank's insurer to pay $113K in fees
A state appeals court has again turned aside an attempt by an attorney who represented two top officers at a failed bank to stick the bank's insurance company with a six-figure legal services bill, saying a trial judge was correct to side with the insurer, who argued the stiffed lawyer should have been suing the bank officers he represented. -
Lawsuit: Lenders, commercial real estate players ran racket to bilk 'unsophisticated' investors of assets
A group of plaintiffs have filed a racketeering suit in Cook County Circuit Court, alleging that for more than 10 years, several major players on the commercial real estate and financing scene have swindled hundreds of victims out of millions of dollars through loans based on inflated appraisals of hotels and motels across the Midwest. -
$2 million verdict vs debt collector stands after judge says collector took bad risk in ignoring FDIC loan mod deal
A debt collection company will not get a new trial or any reduction in a $2 million verdict it was ordered to pay to a woman who fended off a foreclosure action brought by the collector and who then sued the collector for improperly refusing to abide by a loan modification agreement the woman had negotiated with the FDIC before the collector purchased her debt. -
Judge says whistleblower can't collect in FDIC action vs failed bank over appraisal fraud, because FDIC not 'government'
A federal judge has blocked the bid of a former appraisal reviewer who blew the whistle on alleged fraud at a failed suburban bank from collecting as much as a quarter of any settlement the directors of the bank may reach with the Federal Deposit Insurance Corporation, upholding the ruling of another judge who found the FDIC cannot be considered a “government” agency for the purposes of the false claims law upon which the former bank employee has staked his claim. -
CPA sues directors of defunct bank over loan to buy land secretly flipped by fellow bank director at double profit
A Hinsdale CPA who paid $3 million for farmland believed to be ripe for development near Minooka in 2005 has sued the directors of a defunct bank for allegedly defrauding him by loaning him money to buy the land, even as one of the bank’s directors flipped the land to him at a nearly 100 percent profit. John L. Beata, a certified public accountant, filed a fraud complaint in Cook County Circuit Court earlier this month aimed at the directors of the former New City Bank. -
FDIC OK to continue pursuit of $100K retainer paid to lawyer just before First DuPage Bank failure
A Chicago federal judge has turned down a motion to dismiss a suit brought against a now-shuttered law firm by the Federal Deposit Insurance Corporation, which is seeking the return of an alleged improper retainer paid the firm by a failing bank. On Aug. 22, 2014, the FDIC filed a one-count complaint against the Coleman Law Firm, of Chicago, demanding return of $100,000 that had been paid the firm by officers of the now defunct First DuPage Bank.
