Tennessee state law, legal system and justice concept with a 3d render of a gavel on a wooden desktop and the Tennessean flag on background. Credit/AdobeStock

A Tennessee appeals court unanimously ruled Monday that state law permits the acquisition of the $950 million Financial Federal Bank (FFB) by the $1.2 billion Orion Federal Credit Union, ending a two-year legal battle, for now.

The state’s regulator, the Tennessee Department of Financial Institutions (TDFI), which brought the case before the Appeals Court, said Tuesday it is currently in the process of considering its options. One option may include filing an appeal with the Tennessee Supreme Court. Orion declined to comment at this time. The bank’s lawyer did not respond to CU Times‘ request for comment.

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Peter Strozniak


Credit Union Times

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