Jan 11 –
Executives of a failed North Carolina bank have reached a
$4.1 million settlement with the Federal Deposit Insurance Corp,
resolving a closely watched lawsuit accusing them of approving
risky loans that led to heavy losses during the credit crisis.
If approved by the court, the settlement-in-principle,
disclosed in a federal court filing last week, will end the
FDIC’s 2011 lawsuit against three executives of Cooperative Bank
of Wilmington, which was declared insolvent and seized by
regulators in 2009 amid a surge in delinquent real estate loans.
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Read the full article at: http://www.reuters.com/article/fdic-settlement-idUSL2N14V0JP20160111