WICHITA, Kan. – A federal court this afternoon dismissed a suit brought by NCUA against Barclay’s Capital for the sale of $555 million of faulty mortgage-backed securities to U.S. Central FCU and WesCorp FCU, one of nine suits NCUA has filed against Wall Street banks over the failure of the two corporate giants.

Judge John Lungstrum ruled NCUA waited too long to satisfy the statute of limitations before filing the claims, which came in September 2012, as much as six and seven years after Barclay’s sold the MBS to U.S. Central and WesCorp.

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