A 65-year-old senior accountant at CCM was told that the lender was shifting to a new business model and her job was being eliminated. However, the employee claimed she was fired due to her age.
The ABA and state regulators have opposing positions regarding federal preemption of state laws. The Trump administration is considering the views amid an effort to reduce regulatory burdens.
The settlement closes five years of ongoing legal matters between the two companies, following Two Harbors' termination of an agreement with Pine River.
The court on May 16 heard the government’s appeal against a preliminary injunction that prohibited it from laying off more than 1,400 bureau employees through a reduction in force process.