WICHITA, Kan. – A federal court yesterday dismissed almost $2 billion of civil claims NCUA filed against JP Morgan Chase for the sale of mortgage-backed securities sold by Washington Mutual Bank to U.S. Central FCU, WesCorp FCU and Southwest Corporate FCU, the latest in a string of dismissals issued by the court in the credit union regulator’s efforts to recoup losses for the corporate credit union bailout.

In its ruling, the U.S. District Court for Kansas—where U.S. Central was based—adopted the same stance as when it dismissed similar NCUA claims against Barclays Capital and Credit Suisse Securities that voluntary tolling agreements signed by the litigants to suspend the running of the three-year statute of limitations on the securities claims were not to be relied upon.

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