Seattle FHLB Sues Banks For $2 Bln

28 Jan 2010

The Federal Home Loan Bank of Seattle has filed suit against several major banks alleging certificates backed by mortgages were defective.

The Federal Home Loan Bank of Seattle has filed suit against several major banks alleging certificates backed by mortgages were defective. The suit against Morgan Stanley, UBS and Barclays, among others, charges that the banks that sold the certificates to the FHLB made misleading statements about the asset-backed ...

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