| HENRY C. MEIER, ESQ.
| HENRY C. MEIER, ESQ.
So, You Want to Expel Some Members?
At last week’s NCUA board meeting, the board acted very much like a parent giving their kid keys to the car for the first time.
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| HENRY C. MEIER, ESQ.
At Least We Have the CFPB
I usually find myself somewhat critical of the Dodd-Frank Act but I have to admit it really has shown its worth during the latest banking crisis.
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| HENRY C. MEIER, ESQ.
Is Your Arbitration Clause Enforceable?
As I have said before, given the explosion of class-action lawsuits involving credit unions over the last 15 years, any growing credit union should consider whether to put an arbitration clause into its account agreements. Properly crafted and disclosed to their members, an arbitration clause can eliminate the risk and expense of being subjected to a potentially expensive class-action lawsuit while continuing to provide legitimately aggrieved members a mechanism for addressing their concerns with the credit union. The good news is that, as more and more credit unions join banks in adopting these clauses, the clearer the rules of the road – which brings me to the inspiration for this column.
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| HENRY C. MEIER, ESQ.
Supreme Court Takes Yet Another Case That Could Limit Agency Powers
If you think that regulatory agencies have too much power in interpreting laws, then you will be happy about what I am about to tell you. On Monday, the Supreme Court decided to hear a case next year that could dramatically limit an agency’s flexibility to interpret statutes. Between this and the Court’s decision to examine the constitutionality of the CFPB’s funding mechanism, next year is shaping up as one of the most important for credit unions to follow the Supreme Court in years.
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