Federal Deposit Insurance v. Countrywide Securities Corp.

Order Re Motion to Dismiss the First Amended Complaint

MARIANA R. PFAELZER, District Judge.

I. Introduction

Guaranty Bank was a federally insured depository institution that failed after the 2007 and 2008 financial crisis. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”), codified in Title 12 of the United States Code, authorizes the Federal Deposit Insurance Corporation (“FDIC”) to act as receiver for failed depository institutions. As a result of the financial crisis, the FDIC was appointed as receiver to various failed banks across the country, including…