Relevant:
- Update: Taylor, Bean & Whitaker Deal With Colonial Unclear
- Imploded: Colonial Bank, Montgomery AL
- Taylor Bean & Whitaker Poised to Gain Control of Colonial Bancgroup
- Bank of America Sues FDIC Over Taylor Bean Mortgage's $1.75 Billion Losses
- Update: Taylor, Bean & Whitaker / Colonial Deal Moves a Step Further
2012-08-13 — housingwire.com
The Federal Deposit Insurance Corp. sued 12 major banks Friday for selling allegedly faulty mortgage bonds to defunct Colonial Bank.
Montgomery, Ala.-based Colonial failed in August 2009 with more than $25 billion in assets after bad bets on housing and a lending scandal tied to now shuttered Taylor Bean & Whitaker. At the time, the FDIC
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