McKinley v. FDIC (No. 10-420) – records regarding FDIC bailout of Citigroup and Bank of America

Last Updated: November 01, 2012

Synopsis

Judicial Watch filed a Freedom of Information Act lawsuit against the FDIC on behalf of Vern McKinley on March 15, 2010, seeking information related to the Citigroup and Bank of America bailouts.In December 2010, the US District Court for the District of Columbia denied the FDIC’s motion to dismiss and granted in part and denied without prejudice in part Judicial Watch’s motion for summary judgment, ordering the FDIC to “conduct new searches for the records.”In February 2011, the FDIC returned a set of documents including Board of Director meetings discussing the Citigroup and Bank of America bailouts and the Temporary Liquidity Guarantee Program, which guaranteed unsecured debt of private financial institutions.