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NAT CREDIT UNION ADMIN BD v. RBS SECURITIES, INC.

No. 13-56620.

833 F.3d 1125 (2016)

NATIONAL CREDIT UNION ADMINISTRATION BOARD, as Liquidating Agent of Western Corporate Federal Credit Union, Plaintiff-Appellant, v. RBS SECURITIES, INC., FKA RBS Greenwich Capital Markets, Inc., Defendant, and Nomura Home Equity Loan, Inc., Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Filed August 15, 2016.

Attorney(s) appearing for the Case

David C. Frederick (argued), Wan J. Kim , and Gregory G. Rapawy , Kellogg, Huber, Hansen, Todd, Evans & Figel, PLLC, Washington, D.C.; George A. Zelcs , Korein Tillery LLC, Chicago, Illinois; Michael J. McKenna and John K. Ianno , National Credit Union Administration, Alexandria, Virginia; for Plaintiff-Appellant.

Matthew S. Hellman (argued), Barbara S. Steiner and Barry Levenstam , Jenner & Block LLP, Chicago, Illinois, for Defendant-Appellee Nomura Home Equity Loan, Inc.

Marc T.G. Dworsky and David H. Fry , Munger, Tolles & Olson LLP, San Francisco, California, for Defendant-Appellee Wachovia Mortgage Loan Trust, LLC.

Before: Dorothy W. Nelson, Stephen Reinhardt, and Jacqueline H. Nguyen, Circuit Judges.

OPINION

This case concerns the National Credit Union Administration Board's (NCUA) liquidation of Western Corporate Federal Credit Union (Wescorp). The NCUA sued Wachovia Mortgage Loan Trust, LLC (Wachovia) and Nomura Home Equity Loan, Inc. (Nomura) for making false and misleading statements in their...

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