Court Interrupts NCUA’s Wall Street Suits

A federal judge agreed yesterday to halt pending litigation in an effort to resolve whether the statute of limitations can be extended to allow for a government conservator’s claims.

The ongoing suits involve the failure of U.S. Central Federal Credit Union and WesCorp Federal Credit Union to allow two Wall Street banks to appeal Judge Richard Rogers' July ruling preserving MBS suits by National Credit Union Administration (NCUA). Rogers is from the U.S. District Court for the District of Kansas.