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SAN FRANCISCO—San Francisco Federal Credit Union has lost a lawsuit it filed against the San Francisco Municipal Transportation Agency (SFMTA) related to loans made on taxi medallions.  Hailing the decision, the city attorney described the lawsuit as being about a “bank bailout.”

ALEXANDRIA, Va.–In a new Letter to Credit Unions, NCUA said any issuances of secondary capital not completed by Jan. 1 will be subject to the requirements of the new subordinated debt rule, which becomes effective on that date.