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3 FDIC suits over Guaranty-bought RMBS get thrown out

U.S. District Judge Andrew Carter on Sept. 30 dismissed the FDIC'slawsuits against Guaranty Bank'sbond trustees, Reuters reported the same day.

Austin, Texas-based Guaranty failed in 2009, and the FDIC, as receiver, sued number ofbanks over the souredRMBS that led to its collapse. The Sept. 30 decision threw out the regulator's casesagainst three of them — Bank of NewYork Mellon Corp., U.S.Bank NA and Citibank NA.

Carter ruled that the FDIC could notsue over the debt after it sold the securities in March 2010. Any claims could onlybe made by the securities' buyers.