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Fried Frank Harris Shriver & Jacobson LLP | USA | 1 Mar 2010

Enforcement: FDIC loses a round

In a recent battle with its regulator, Advanta Bank (Bank), a bank subsidiary of Advanta Corp. (Advanta) that is regulated by the Federal Deposit Insurance Corporation (FDIC), won a victory over the agency, when a U.S. District Court ruled that the FDIC did not have the authority to issue a temporary cease and desist order (C&D) against the Bank.

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