BANKING

HomeFed Corp. Files $5-Billion Suit: The federal suit filed in San Diego against the Resolution Trust Corp. alleges breach of contract and mismanagement at the failed San Diego-based bank. It also alleges breach of duty in the government’s handling of the thrift. Federal regulators in July seized HomeFed, the nation’s eighth-largest savings and loan. The former holding company for HomeFed Bank filed claims last fall totaling $5.5 billion with the RTC, which was acting as receiver for the failed thrift. HomeFed Corp. said the claims were based on estimated losses from the government’s sale of HomeFed Bank assets at less than their value. In the latest lawsuit, the holding company contends the RTC has not responded to the claims despite a federal law that requires a response within six months.