FARNIK v. F.D.I.C.

No. 11-1601.

707 F.3d 717 (2013)

Robert FARNIK, et al., Plaintiffs-Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided February 5, 2013.


Attorney(s) appearing for the Case

Lloyd J. Brooks (argued), Attorney, Brooks Law Firm, Homewood, IL, Anthony Campion Campanale , Attorney, Chicago, IL, for Plaintiffs-Appellants.

Kathleen V. Gunning (argued), Attorney, Federal Deposit Insurance Corporation, Legal Division, Appellate Litigation Unit, Arlington, VA, Eric S. Rein , Attorney, Horwood, Marcus & Berk, Chicago, IL, for Defendant-Appellee.

Before WOOD, WILLIAMS, and TINDER, Circuit Judges.


WILLIAMS, Circuit Judge.

A group of borrowers sued their lender, Interstate Bank, in state court and alleged that the bank deceived them by failing to base their interest rates on an index rate as promised. After the state shut the lender down, the bank's successor, MB Financial Bank, sought to be replaced as defendant by the lender's receiver, the Federal Deposit Insurance Corporation. After the state court granted the substitution request, the FDIC removed the case...

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