[ by Larry Goldfarb  and Howard Haykin] The FDIC continues to scrutinize large banks over the mortgage scandal, and recently filed 3 lawsuits against a group of large banks over losses on soured mortgage debt.  Two small Illinois banks that failed in 2009 had purchased the debt. Citizens National Bank, based in Macomb, IL, and Strategic Capital Bank in Champaign, IL, had roughly $1 billion of combined assets when they were closed on 5/22/09.  Acting as receiver for these 2 failed banks, the FDIC sued a number of banks, including Bank of America Corp, Citigroup Inc, Deutsche Bank AG and JPMorgan Chase & Co. The lawsuits, filed on Friday by Grais & Ellsworth, accuse the banks of misrepresenting the risks of residential mortgages they packaged into securities, causing losses for investors once the poor quality and defective underwriting became evident.  They seek a combined $92 million.   The 2 lawsuits filed in Manhattan federal court seek $77 million, while the lawsuit filed in L.A. federal court seeks $15 million. Named Bank Defendants. BofA and Citi are named in all three suits.  Deutsch Bank and JPMorgan are named in 2 suits;  Ally Financial, Credit Suisse, HSBC Holdings, RBS, and UBS AG were named in only one. The FDIC has, since the 2008 financial crisis, filed dozens of lawsuits on behalf of failed banks, and targeted at least 549 officers and directors of 63 different institutions in so-called professional liability lawsuits. In December, former WaMu CEO Kerry Killinger and 2 colleagues agreed to pay $64 million to settle an FDIC lawsuit over their role in the biggest failure of a U.S. bank or thrift. The Cases Are:  (i) FDIC v. Bear Stearns Asset Backed Securities I LLC et al, U.S. District Court, Southern District of New York, No. 12-04000; (ii) FDIC v. JPMorgan Securities LLC in the same court, No. 12-04001; (iii) FDIC v. Countrywide Financial Corp et al, U.S. District Court, Central District of California, No. 12-04354 For further details, go to:  [Reuters, 5/21/12].