Suit Challenges Savings Closures: Rhode Island Gov....
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Suit Challenges Savings Closures: Rhode Island Gov. Bruce G. Sundlun violated state and federal constitutional standards when he closed 45 banks and credit unions, according to a lawsuit. “In effect, the governor is confiscating people’s property without due process,” said attorney Stephen J. Fortunato Jr., who filed the class-action lawsuit on behalf of a depositor at the Rhode Island Central Credit Union. The lawsuit seeks the release of $276 million in frozen assets at the credit union.
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