The National Credit Union Administration or NCUA, has Monday sued
securities firms J.P. Morgan Securities, LLC (JPM), and RBS
Securities, Inc. (RBS, RBS.L) alleging violations of federal and
state securities laws and misrepresentations in the sale of
hundreds of securities to federal credit unions. The first two
lawsuits seek total damages of $843 million, with more lawsuits to
follow seeking total damages amounting to billions of dollars.
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