The Federal Deposit Insurance Corp. sued a group of banks including JPMorgan Chase & Co., Citigroup Inc., Bank of America Securities and Deutsche Bank in two actions over mortgage-backed securities.
The FDIC, acting as receiver for two failed banks, filed the suits in New York federal court today seeking $77 million the banks allegedly lost on securities backed by residential mortgages.
The FDIC filed an $11 million claim as receiver for Strategic Capital Bank, a Champaign, Illinois, commercial bank that was closed by regulators in 2009. It filed a separate $66 million claim on behalf of Strategic Capital and Citizens National Bank.
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