Westberg, et al. v. FDIC, et al.

Plaintiffs filed suit seeking a declaratory judgment that the FDIC's repudiation of a residential construction loan agreement relieved them of any obligation to continue making loan payments. The FDIC then assigned its interest in the loan to Multibank and plaintiffs amended their complaint to add Multibank as a defendant. The court affirmed the district court's dismissal of plaintiffs' claim against Multibank for lack of subject matter jurisdiction because the claim was subject to the administrative exhaustion requirements pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Pub. L. No. 101-73, 103 Stat. 183. View "Westberg, et al. v. FDIC, et al." on Justia Law