October 13, 2023 | Posted By Sheppard Mullin | permalink
print this article

FDIC Changes Deposit Insurance Rules For Mortgage Loan Securitizations

The Emergency Economic Stabilization Act of 2008 (the "Act") temporarily increased the standard maximum deposit insurance amount from $100,000 to $250,000, effective October 3, 2008, and ending December 31, 2009. After that date, barring further action by Congress and the President, the standard maximum deposit insurance amount will return to $100,000.

Continue Reading Questions & comments
October 7, 2023 | Posted By Sheppard Mullin | permalink
print this article

Bank's Claim For Unjust Enrichment Governed By Three-Year Statute of Limitations

Question: Is a bank's claim against its borrower for unjust enrichment arising out of the borrower's nonpayment of a promissory note governed by the four-year statue of limitations for breach of written contract?

Answer: No, according to the Fourth District Court of Appeal, Division One, in Federal Deposit Insurance Corporation v. Richard K. Dintino (D051447), decided October 2, 2008.

Continue Reading Questions & comments