Federal Deposit Insurance Corporation v. State Bank of Virden

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that § 1823 [e] gives “statutory backing to the holding of D’Oench, Duhme [& Co.] that oral side agreements do not bind the FDIC” or Resolution Trust
• refusing to honor a setoff because the stated reason for the setoff was alleged misrepresentations about a loan participation and was thus precluded
• FDIC was not a holder because “loan participation is not itself a negotiable instrument, even though the underlying note may have been”

Source: CourtListener parenthetical corpus (CC0).