Federal Deposit Insurance Corporation v. W.T. Langley and Mary Ann Grimes Langley

JOHNSON, Circuit Judge:

W.T. and Mary Ann Grimes Langley (the “Langleys”) appeal from the district court’s final judgment, pursuant to Fed.R. Civ.P. 54(b), in favor of the Federal Land Bank of Jackson (“FLBJ”). The district court held that the FLBJ is not bound by the misrepresentations and omissions of the president of a Federal Land Bank Association (“FLBA” or “Association”). The Langleys allege that they borrowed money, from FLBJ, based on the misrepresentations and omissions of the Association’s president, Elmer Landry. Landry is the former president of the FLBA of Opelousas; the loan…