• FDIC Program to Auction Legacy Loans Put on Hold
  • June 24, 2009 | Author: Charles E. Dropkin
  • Law Firm: Proskauer Rose LLP - New York Office
  • The FDIC announced on June 3 that it will suspend a pilot auction of loans under the Legacy Loans Program (the "Program"), a key element of the Treasury Department's Public-Private Investment Program ("PPIP") designed to rid banks of distressed whole loans, originally scheduled for June.