SAN FRANCISCO – NCUA on Tuesday filed an appeal of the July 13 ruling by a federal court in Los Angeles dismissing most of its $491 million in claims against Goldman Sachs for failed mortgage-backed securities the Wall Street bank sold to U.S. Central FCU and WesCorp FCU – one of a growing number of rulings unfavorable to NCUA related to corporate credit unions.

In documents filed with the U.S. Court of Appeals for the Ninth Circuit, NCUA said the lower court erred when it dismissed the claims because it said they were filed too late.

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