Banking Failures - (1) Are we done? (2) What are the Legal Implications?

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Reporting on the last quarter of 2010, the FDIC said its "problem banks" rose from 860 to 884. If that is an indicator that the system is not yet righted, we should expect to see more litigation related to workouts and collections. Therefore, issues recently presented on this website relating to foreclosures and title policies, servicers collecting for their holders in due course and fraudulent inducement claims sidestepping contractual merger clause become increasingly relevant. See attached article "Is Your Bank One of the 459 In Immediate Danger of Failure?"

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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