This follows earlier action by CUNA—supported by NWCUA—to back credit unions’ interests.
The decision allows credit unions and other financial institutions to coordinate use of attorneys, collection of evidence, requests of witnesses, and more.
Plaintiffs’ attorneys are looking for financial institution in each state to join the case, and are sending letters to some Northwest credit unions.
Taking advantage of new laws trying to keep up with rapidly changing technology, one person in Pennsylvania is repeatedly filing claims against financial institutions over Title III violations. On May 9 he struck $128 million Century Heritage FCU.
An ATM customer who has sued 32 financial institutions in the past three years over fee disclosures has filed suit against North Coast Credit Union. While not uncommon throughout the country, the suit is the first of its kind in the Northwest.
A U.S. District Court judge dismissed most complaints brought by a number of financial institutions against Heartland Payment Systems Inc. regarding its January 2009 data breach.
The NCUA is suing Wells Fargo, alleging they violated state and federal securities laws and misrepresented the sale of securities to the now-defunct U.S. Central Federal Credit Union and Western Corporate Federal Credit Union.
A federal court ruling dismisses negligence charges against directors of WesCorp but key executives still face trail in a civil suit claiming their actions caused the huge corporate to fail.