Legal Opinion
Nat'l Credit Union Admin. Bd. v. U.S. Bank Nat'l Ass'n
Court of Appeals for the Second Circuit
Decided August 2, 2018No. 17-756-cv; August Term 2017PublishedCited by 233 opinions
1Opinion of the Court
José A. Cabranes, Circuit Judge:
*245 The Plaintiff-Appellant National Credit Union Administration Board manages the National Credit Union Administration (together, "NCUA"), an independent federal agency responsible for regulating and insuring federal credit unions. In 2009 and 2010, NCUA liquidated five corporate credit unions and succeeded to their assets, including certificates they held in residential mortgage-backed securities trusts ("RMBS Trusts"). NCUA then entered into a series of agreements to resecuritize the certificates and transferred most of the certificates into newly created and…
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