SCOTUS rules City of Miami FHA case moot
The Supreme Court Monday vacated a previous decision ruling plaintiffs can no longer rely on the Eleventh Circuit Court's decision in City of Miami v. Wells Fargo & Co as a source of support in similar cases. The City of Miami last month filed the Suggestion of Mootness following its voluntarily dismissal of pending lawsuits against Bank of America, Wells Fargo, Citigroup, and JPMorgan Chase related to discriminatory practices under the Fair Housing Act.
Under the new ruling, Wells Fargo will not have to litigate similar cases in the Eleventh Circuit and the previous decision can no longer serve as precedent when pursuing a similar claim under the Fair Housing Act.
NAFCU had previously joined with several other financial industry trade organizations to petition the U.S. Supreme Court in Wells Fargo & Co. v. City of Miami to review the lawsuits and request review of the federal appeals court decision on remand and argue a narrower approach to the right of access under the FHA's discrimination clause is needed to protect financial institutions from frivolous lawsuits. Additionally, the amicus brief raised concerns regarding a municipality representing itself as an "aggrieved person" under the Fair Housing Act.
Additionally, the association has continuously highlighted that credit unions have not engaged in the illegal and discriminatory practices of banks, including redlining, because credit unions were established to offer provident credit to any member in their field of membership. NAFCU will continue its housing finance reform efforts to ensure credit unions' unfettered access to the secondary mortgage market.
Add to Calendar 2023-09-22 14:00:00 2023-09-22 14:00:00 Understanding Credit Card Portfolio Sales & Agent Programs Both credit union and bank credit card issuers are under intense pressure from various sources, including competitor innovation, significant internal resource commitments, increasing operating expenses, uncertain regulatory and economic environments and a variety of capital and liquidity constraints. This has led to about 80% of all banks offering credit cards under an ‘agent issuing’ model, where a third-party issues credit cards under the financial institution’s name. While hundreds of credit unions do the same, and interest in this option has increased in the last two years, the majority of credit unions still own and manage this product themselves. Deciding whether this option can meet strategic, financial and member needs can be difficult to untangle. In this webinar, Understanding Credit Card Portfolio Sales & Agent Programs, you’ll delve into the structure of such programs, the financial and risk-profile impacts of such a decision, the contractual commitments required of both parties and discover evaluation tips and processes for any credit union that would like to evaluate this path. Key Takeaways Discover the structure of the agent issuing concept and obligations of both parties Understand the financial impact of entering such a program to the balance sheet, income statement, and critical performance ratios Ascertain the impacts to members, including both positive and negative possibilities Review the accompanying contractual structures and key considerations Develop an evaluation process that best protects the credit union’s financial and other outcomes Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until September 22, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend COOs CFOs NCCOs and compliance titles NCRMs and risk titles General counsel staff Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Senior Associate Director of Education, NAFCU Learning Objectives: See key takeaways Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.0 credits Recommended Field of Study: Regulatory Ethics – Technical About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, DC. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU firstname.lastname@example.org America/New_York public
Credits: NCCO, NCRM, CPE
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