Superior Choice Credit Union in Superior, Wis., will purchase Dairyland State Bank. It is the second deal announced this year where a credit union plans to buy a bank.
The results suggest that even as financial institutions implement more sophisticated fraud-mitigation techniques, they have not been keeping pace with criminals.
In his decision Thursday, U.S. District Judge Paul Gardephe said the lawsuit brought by the Lower East Side People's Federal Credit Union lacked standing.
Credit union groups were scrambling Wednesday to respond to a letter from Senate Finance Committee Chairman Orrin Hatch questioning whether the industry had outgrown its income-tax exemption.
