Suzan Tantleff Trusts v. Federal Deposit Insurance

MEMORANDUM OPINION

THOMAS F. HOGAN, District Judge.

In this action, the plaintiffs seek a judicial determination that they are owed additional deposit insurance coverage for trust assets lost when a federally insured bank was placed in receivership. Having carefully reviewed the parties’ cross-motions for summary judgment, the Court will deny the plaintiffs’ motion and grant the defendant’s motion.

I. BACKGROUND

The plaintiffs, trustees and beneficiaries of three trusts, have brought suit against the Federal Deposit Insurance Corporation (“FDIC”) in its capacity as insurer of the bank in which…