FDIC Exceeded its Enforcement Authority with Temporary Cease-and-Desist Order
Jeremiah S. Buckley & Liana R. Prieto
July 8, 2010
In a rare challenge to the FDIC, a bank sued to prevent enforcement of a temporary cease-and-desist order seeking to halt its voluntary liquidation. Jerry Buckley and Liana Prieto's commentary reviews Advanta Bank v. FDIC, 684 F.Supp.2d 17 (D.D.C. 2010) (2010 U.S. Dist. LEXIS 16415), including the infrequency of challenges to FDIC enforcement authority, standards under which the FDIC may issue temporary cease-and-desist orders, and implications for future use of temporary cease-and-desist orders.
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Published by Corporate Law Emerging Issues Analysis, LexisNexis Communities
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