was rebuffed by a bankruptcy judge last September when it tried to sue Colonial BancGroup for a $900 million shortfall at Colonial’s banking subsidiary. The FDIC, which took over Colonial Bank in.
The suit at issue grew from the 2009 collapse of Montgomery, Alabama-based Colonial Bank, which had invested roughly $300 million in nine residential mortgage. Colonial Bank was sold to Branch.
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FDIC Case Over Worthless Securities Revived. Alabama-based Colonial Bank, which had invested roughly $300 million in nine residential mortgage-backed securities.. Colonial Bank was sold to Branch Banking and Trust (BB&T) of Winston-Salem, North Carolina..
mortgage Ex-Parent of colonial bank sues bb& T for Return of $300 Million WINSTON-SALEM, N.C., July 20, 2017 /PRNewswire/ – BB&T Corporation BBT, -0.16% today reported earnings for the second quarter of 2017. Net income available to common shareholders was a record $631.Old mortgage bonds at the heart of the 2008 global financial market crisis are on the road to becoming extinct.
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