JPMorgan Chase Bank, N.A. v. First American Title Ins. Co.
JPMorgan Chase Bank, N.A. v. First American Title Ins. Co., 750 F.3d 573 (6th Cir. 2014) (argued for FDIC) (holding that FDIC, as receiver, could bring a breach-of-contract action against a title insurance company based upon the terms of a closing protection letter (CPL) issued by the company whereby it agreed to indemnify the bank against “actual losses” caused by the dishonesty of the company's local loan closing agent, because—among other reasons—the title company lacked prudential standing to argue that FDIC did not retain the CPL claim under the terms of a P&A Agreement between FDIC and a bank that assumed most of the failed bank's assets and liabilities).