Without releasing any details, Michigan First Credit Union and First Michigan Bank said they have resolved a dispute over trademark infringement.
In a statement, both parties said they "are pleased to announce that they have amicably resolved their trademark dispute, and all pending judicial and administrative proceedings stemming from those disputes have been dismissed."
The $550 million Michigan First filed a trademark suit against First Michigan Bank May 12 saying the bank's name was "in conscious disregard of Michigan First's trademark rights and creates a likelihood of public confusion, in which consumers seeking Michigan First's services will be diverted to the bank, and/or will erroneously believe that the services offered by the bank are offered, sponsored, or endorsed by Michigan First, when in fact they are not." First Michigan vowed to defend its name, calling Michigan First's claims without merit.
The details of the parties' agreement to drop the trademark suit are, and will remain, confidential, both financial institutions said.