Case involves claims of bylaw violations and misappropriated funds.
The negotiated settlement meant to end the longstanding dispute over credit card interchange moved closer to becoming final last week as attorneys for both sides in the dispute proposed a final settlement agreement to the U.S. District Court in New York and made a motion for its approval.
The Electronic Payments Coalition expects both sides of a proposed settlement on card interchange will file definitive settlement agreement on Friday.
Space Coast CU is suing Barclays and State Street Securities over investment losses that led to its takeover of Eastern Financial CU.
Hudson Valley Federal Credit Union, which is suing the State of New York over the legality of the mortgage recording tax, is itself the subject of a lawsuit from members who had to pay the tax.