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IndyMac records ordered released

October 02, 2008|From Times Wire Services

Lawyers pursuing a class-action suit against failed IndyMac Federal Savings Bank won a legal round when a federal judge in Los Angeles ordered the release of borrowers' records.

U.S. District Judge Alicemarie H. Stoller ruled that officials with the Federal Deposit Insurance Corp., which now operates the bank, must turn over paperwork identifying possible plaintiffs in the suit, which alleges that IndyMac misrepresented terms for adjustable-rate mortgages.

Stoller also blocked the FDIC from enforcing an Oct. 14 deadline for possible plaintiffs to file legal claims against the Pasadena-based bank.

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