Litigation

The National Credit Union Administration is set to vote on revisions to its field-of-membership rule, even as it's entangled in a legal dispute with the American Bankers Association over the rule.

The settlement applies to customers who had accounts opened without their consent over a 15-year period beginning in May 2002.

Acting CFPB Director Mick Mulvaney had sided with two industry trade groups that sued the CFPB in April to invalidate the tough restrictions.

Recently filed court documents give the clearest sign yet that the National Credit Union Administration is considering appealing a controversial court decision on the regulator's revised field-of-membership rule.

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

Banks have not yet finished with the wave of lawsuits stemming from the financial crisis. There are ways they can better ward off those threats next time around.

A court agreed with HomeStreet that Blue Lion Capital failed to comply with the company's advance-notice bylaw when it submitted director nominations and shareholder proposals.

A federal judge has thrown out another ADA suit targeting a credit union website, but the industry is still waiting for clarity from the Department of Justice.

The estimated costs of recent digital glitches at BB&T, TD and Wells Fargo are in the hundreds of millions of dollars, but contractual and economic realities make it hard for banks to sue vendors for the money or fall back on insurance policies.

The credit union trade organizations have come to the aid of LGE Community Credit Union, which is a party in a class action lawsuit along with 29 other FIs.