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Legal briefs: Ex-CEO of Kan. credit union receives 5-year prison sentence

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Legal briefs: Ex-CEO of Kan. credit union receives 5-year prison sentence

S&P Global Market Intelligence rounds up a selection of recent legal and regulatory developments in the bank space.

* Independent Bank settles lawsuit over checking account transactions for $2.2M

Grand Rapids, Mich.-based Independent Bank Corp. paid $2.2 million to settle a lawsuit concerning the bank's checking account transaction sequencing from February 2009 to June 2011, according to a regulatory filing.

* Blue Hills Bancorp, ex-employee settle wrongful termination suit

A former Blue Hills Bancorp Inc. employee has withdrawn his claims of wrongful termination.

* Great Southern Bancorp unit gets court victory on overdraft lawsuit

Great Southern Bancorp Inc. unit Great Southern Bank has won a lawsuit filed by a customer who alleged that the bank's automatic overdraft fees violated Missouri's usury laws, which limit the interest charged on some debts.

* Former Kan. credit union CEO sentenced to 5 years in prison

Former Parsons Pittsburg CU CEO Nita Rae Nirschl was sentenced to five years in federal prison and ordered to pay restitution of more than $10 million for embezzling millions of dollars from the credit union, according to a press release from the Department of Justice.

* Complaint over CU's website accessibility voluntarily dismissed

A lawsuit claiming that the website of BCM FCU was in violation of the Americans with Disabilities Act has been voluntarily dismissed, with prejudice.

* Zions updates on Ponzi-liability lawsuits

Zions Bancorp. continues to face suits alleging that it assisted an investment promoter that was an alleged Ponzi scheme, according to the bank's 2017 Form 10-K filed March 1.

* BBVA sued over phone collection practices, overdrafts

BBVA Compass Bancshares Inc. is facing four new lawsuits, the company disclosed in its annual 10-K filing, including three that could become class actions. The company said it intends to defend itself vigorously against all four of the claims.

* Banc of California settles Seabold's wrongful termination suit

Banc of California Inc. and former Executive Vice President Jeffrey Seabold on Feb. 14 reached a final settlement in connection with the latter's wrongful termination lawsuit.

* Former employee accuses Wells Fargo of mishandling fraud investigations

A former Wells Fargo & Co. employee is suing the bank for firing him after he complained about hundreds of mishandled fraud investigations in the company, The New York Times reported Feb. 28.

* NAACP, former employee sue Capital One for redlining

Capital One Bank (USA) NA is facing claims of redlining by the National Association for the Advancement of Colored People, the League of United Latin American Citizens and former employee Laurie Vignaud. Capital One Bank is a unit of Capital One Financial Corp.

* WSFS to pay $12M settlement to Universitas Education

WSFS Financial Corp. is paying $12.0 million to settle claims relating to a bank it acquired in 2010.