Andrews' Bank & Lender Liability Litigation Reporter
March 1, 2000
Copyright (c) 2000 Andrews Publications
DOL SAYS PENSION FUND CANNOT MAKE MORTGAGE LOANS
U.S. DOL v. Molnar
In a Michigan federal court suit, the U.S. DOL has charged the trustees of the Detroit-area Carpenters Union pension fund with breaching fiduciary duties under ERISA for using plan assets to make mortgage loans worth $14,752,471. The loans violated...