Mr Cooper Group Inc (COOP)

[warcton]

"subsection (ii) of § 1821(d)(13)(D) bars only claims that relate to an act or omission of the failed bank of the FDIC-as-receiver, and appellants’ suit is simply not a “claim” under FIRREA. In FIRREA, the word “claim” is a term-of-art that refers only to claims that are resolvable through the FIRREA administrative process, and the only claims that are resolvable through the administrative process are claims against a depository institution for which the FDIC is receiver. Because appellants’ suit is against a third-party bank for its own wrongdoing, not against the depository institution for which the FDIC is receiver (i.e., Washington Mutual), their suit is not a claim within the meaning of the Act and thus is not barred by subsection (ii)."

Finally, the FIRREA defense was shot down.

JPM just lost protection for their pre-BK actions.