The National Credit Union Administration filed a lawsuit against Barclays, alleging the bank's sale of faulty mortgage-backed securities to two corporate credit unions — U.S. Central and WesCorp — contributed to their 2009 collapse.

The suit, filed in U.S. District Court for the District of Kansas, says Barclays negligently packaged subprime mortgages into securities that quickly defaulted. Barclays sold over $555 million in securities to U.S. Central and WesCorp.

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