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Home » Store » Taxable » Bank Guidelines Out on Notifying Regulators of Settlement Pacts

Bank Guidelines Out on Notifying Regulators of Settlement Pacts

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Federal thrift and banking regulators have issued guidelines for filing notices of proposed class action settlements. The guidelines issued on April 21 implement a provision in the Class Action Fairness Act of 2005 requiring federally chartered depository institutions that are defendants in class-action lawsuits to notify their appropriate federal and state regulators if a proposed settlement is reached. …
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