By Stewart Bishop Additional reporting by Linda Chiem. Editing by Richard McVay. All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (August 11, 2014, 5:34 PM ET) — The Federal Deposit Insurance Corp. and two former top executives of failed Advanta Bank Corp. are nearing a deal to resolve the independent agency’s $219 million lawsuit accusing the pair of…
By Carolina Bolado Additional reporting by Jeff Overley. Editing by Elizabeth Bowen. All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (November 2, 2012, 10:19 PM ET) — The Federal Deposit Insurance Corp. on Wednesday sued Colonial Bank’s former auditors PricewaterhouseCoopers LLP and Crowe Horwath LLP for the $1 billion that the now-defunct bank lost in the Taylor Bean…
By Dan Rivoli Editing by Andrew Park. All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (August 24, 2011, 6:25 PM ET) — Two former First National Bank of Arizona officers “sacrificed safety and soundness” when they marketed risky mortgage loans that returned record profits but ultimately caused the bank to fail, the Federal Deposit Insurance Corp. said Tuesday…
By Eric Hornbeck All Content © 2003-2016, Portfolio Media, Inc. Law360, New York (December 3, 2010, 2:47 PM ET) — The Mayo Clinic’s foundation has sued BP PLC subsidiaries for wrongly deducting production and other costs from oil and gas royalties on properties in the Texas panhandle and for failing to properly develop the properties. The Minnesota-based health care provider…