Litigation

District Judge Timothy J. Kelly ruled Tuesday that Office of Management and Budget Director Mick Mulvaney was the legal interim head of the Consumer Financial Protection Bureau, denying a request by Deputy Director Leandra English to block the appointment.

United Nations Federal Credit Union and two others have consented to pay $1.47 million for offering, marketing and underwriting unlicensed credit and debit card-based life insurance programs.

Bay Bancorp shareholders will get the added payouts if the Maryland bank's management settles a lawsuit and addresses a number of bad credits.

The disagreement is tied to Walnut Street, an entity formed in 2014 to move certain commercial loans out of the bank. Separately, the company is facing a civil money penalty from the FDIC tied to issues with a third-party payment processor.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses, earning praise from credit union trade groups.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses.

Eight leagues/associations now are part of class action response to massive hack, with two leagues – representing CUs in Nebraska, Arizona, Colorado and Wyoming – joining on Halloween.

While used infrequently by credit unions, arbitration clauses can be an effective way to ensure both the credit union member and the credit union's interest are protected when disputes arise.

Republicans were able to use an obscure legislative process to overturn a rule that banks and credit unions feared would raise their litigation costs.

British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.