S&P Global Market Intelligence rounds up a selection of recent legal and regulatory developments in the bank space.
US District judge dismisses Canadian benchmark rate rigging suit
A federal judge in Manhattan dismissed a class-action lawsuit that accused nine large banks — namely Bank of America Corp., Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Deutsche Bank AG and HSBC Holdings PLC — of conspiring to manipulate the Canadian Dealer Offered Rate.
Hamilton Bancorp faces lawsuits over Orrstown Financial Services merger
Towson, Md.-based Hamilton Bancorp Inc. is facing two lawsuits seeking to block its pending merger into Shippensburg, Pa.-based Orrstown Financial Services Inc. The lawsuits were filed by Michael Rubin and Paul Parshall, purported shareholders of the company. Both plaintiffs seek attorneys' and experts' fees, and rescission and rescissory damages if the deal closes.
Ent CU faces suit over alleged improper overdraft fees
A class-action lawsuit was filed against Ent CU, accusing the Colorado Springs, Colo.-based credit union of improperly charging overdraft fees, The (Colorado Springs) Gazette reported. The lawsuit was filed in the U.S. District Court in Denver on behalf of two members of the credit union.