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Federal Deposit Insurance Corporation (FDIC) |
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| Hughes, United States District Court for the Southern District of Texas, has ordered that the Federal Deposit Insurance Corporation (FDIC) pay MAXXAM over US$ 72 million dollars in sanctions as measured by legal and other expenses incurred during its 10-year legal battle against the regulatory agency. As part of the "Deposit Insurance Funds Act of 1996," a special assessment will be imposed on SAIF deposits of each insured institution in accordance with regulations of the Federal Deposit Insurance Corporation (FDIC). The Federal Deposit Insurance Corporation (FDIC) had taken 25 percent of all monies over $100,000 in the mortgage escrow accounts of 72 properties - including co-ops as well as commercial properties - saying the money, amounting to $2. |
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