A federal judge yesterday dismissed key charges in National Credit Union Administration (NCUA)’s suit against officers and directors of WesCorp Federal Credit Union, but allowed several other charges to remain, making it increasingly likely there will be a trial in the failure of the one-time $34 billion corporate credit union.

U.S. Judge George Wu dismissed charges by NCUA that the WesCorp figures violated the California Business Judgment Rule in loading up the corporate with risky MBS that eventually failed and caused losses of as much as $7 billion.

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