Lawyers for NCUA told a federal judge here that the federal agency's June 20 suits against JP Morgan and RBS Securities should not exonerate officers and directors of WesCorp FCU in the 2009 failure of the one-time $34 billion corporate credit union.

“The allegations of the JP Morgan Complaint are not a shield protecting the defendants from further scrutiny of their own culpability for the failure of WesCorp,” the NCUA lawyers asserted in papers posted by the court yesterday.

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