FDIC Reportedly Files Suit Against Several Large Banks

The ""FDIC"":http://www.fdic.gov/ reportedly filed suit Friday against a number of large bank holding companies, including ""Bank of America"":https://www.bankofamerica.com/, ""Citigroup"":http://www.citigroup.com/citi/, ""Deutsche Bank"":https://www.db.com/us/, and ""JPMorgan Chase"":http://www.jpmorganchase.com/corporate/Home/home.htm.

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""_Reuters_"":http://www.reuters.com/article/2012/05/21/us-fdic-bank-lawsuits-idUSBRE84K1B420120521 reported that the FDIC seeks to recoup some $92 million for two banks that failed in 2009. The suit alleges that banks like the big four are responsible for misrepresenting mortgage-backed securities to Citizens National Bank and Strategic Capital Bank.

Speaking with _MReport_, FDIC spokesperson David Barr declined to comment on the story.

Law firm Grais & Ellsworth filed the suit on behalf of the agency, according to _Reuters_, seeking a total $77 million in federal districts in Los Angeles and New York.

The news outlet said that Bank of America and Citigroup appear as the only defendants cited in all three cases, with Deutsche Bank and JPMorgan in two. Ally Financial, Credit Suisse Group, HSBC Holdings, the Royal Bank of Scotland Group, and UBS each reportedly appear in other suits.