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Indymac depositors get another shot at retroactive deposit insurance

Indymac depositors get another shot at retroactive deposit insurance


Ryan Carter
Posted: 05/27/2010 04:23:20 PM PDT

Local lawmakers Thursday introduced an amendment to financial reform that would allow depositors at failed Pasadena-based Indymac Bank to recoup a collective $233 million in lost savings.

The amendment, called the Indy Act, would make a federal deposit insurance cap of $250,000 retroactive to the time IndyMac failed in July of 2008. At the time, deposit insurance was set for deposits up to $100,000. But as the financial crisis grew Congress only a few months later approved the heightened cap.

But the cap did not extend to institutions that failed before October 2008.

“The whole thing is about fairness,” said Rep. David Dreier, R-San Dimas, who along with Rep. Jane Harman, D-Venice, introduced the bill Thursday.

Source: www.pasadenastarnews.com

Posted in foreclosure fraud, indymacComments (0)

Indymac Federal Bank Fsb V. Israel A. Machado : Deposition of Erica Johnson-Seck

Indymac Federal Bank Fsb V. Israel A. Machado : Deposition of Erica Johnson-Seck


Indymac Federal Bank Fsb Vs. Israel a. Machado :

In this depo you will see exactly how this Illegal FORECLOSURE FRAUD is fabricated, conspired, concealed, manipulated and fraud upon the courts.

Deposition_of_Erica_Johnson-Seck_Part_I

[ipaper docId=37528161 access_key=key-t6hhb0aqxj8gvgam8s7 height=600 width=600 /]

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Posted in concealment, conspiracy, corruption, erica johnson seck, FIS, foreclosure fraud, foreclosure mills, fraud digest, indymac, Lender Processing Services Inc., LPS, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Mortgage Foreclosure Fraud, note, onewestComments (0)


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