Government
Dec. 23, 2010
FDIC Telling Defense Lawyers: Give Up Corporate Records
In recent months, the FDIC has aggressively sought the return of bank records from the former officers and directors of failed institutions--and their lawyers. Some have complied, others fought back. Two lawsuits are pending.
Daily Journal Staff Writer
On a recent Friday evening, a pack of agents from the Federal Deposit Insurance Corp. filed into a small California bank and announced they were taking over. The bank, like hundreds of others in the past two years, had failed.
Within 48 hours, the FDIC had dispatched a deputy sheriff to seize copies of bank records from the institution's former CEO, and also did something that has shocked the defen...
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