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WASHINGTON--The CFPB has rescinded a 2020 advisory opinion on Regulation B, which implements the Equal Credit Opportunity Act (ECOA). The rescission was published Wednesday in the Federal Register and covers certain facets of for-profit special purpose credit programs (SPCPs) designed and deployed to benefit historically underserved or economically disadvantaged groups, America's Credit Unions noted.

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WASHINGTON—The Federal Deposit Insurance Corp., acting as receiver for the failed Silicon Valley Bank, is the sole owner of the bank’s claim for insurance coverage tied to a $73 million fraud scheme and is entitled to recover any proceeds related to losses suffered by the institution, a federal judge in North Carolina has ruled, Law360 said.

CHARLOTTE, N.C.—Wells Fargo must face trial in a disability discrimination and retaliation lawsuit brought by a former finance manager after a federal judge in North Carolina denied the bank’s motion for summary judgment, finding factual disputes that must be resolved by a jury. The ruling allows key claims under the Americans with Disabilities Act and related retaliation allegations to proceed, Law360 said.