The Federal Deposit Insurance Corp. is seeking, through a federal civil lawsuit, to be repaid $9.8 million it claims it could not recover in its takeover of a failed Glynn County, Ga., bank because of the banks’ negligent lending practices and wasting of assets on unnecessary perks for directors.
This wire news service story is no longer available.
However a copy might still be available at www.thebrunswicknews.com
Related:
GA Bank Becomes No. 3
A Georgia bank found its way to the Mortgage Graveyard and became the third federally insured casualty this year.