WICHITA, Kan. – Faced with diminishing prospects on its multi-billion dollars of corporate credit union claims, NCUA filed yesterday to appeal last week’s ruling by the U.S. District Court here dismissing the credit union regulator’s $555 million of claims against Barclays Capital for the sale of faulty mortgage-backed securities to U.S. Central FCU and WesCorp FCU, the two biggest credit union failures ever.

The notice of appeal to the Tenth Circuit Court of Appeals comes as the same court is reviewing an earlier ruling allowing NCUA’s MBS claims against RBS Securities, one of eight Wall Street banks being sued by NCUA for the failure of U.S. Central, WesCorp and three other corporates, Members United Corporate FCU, Southwest Corporate FCU and Constitution Corporate FCU.

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