A federal magistrate has ordered Space Coast Credit Union to a non-binding mediation session with lawyers from five Wall Street banks and two rating agencies regarding the credit union’s $100-million claim related to a failed investment the banks sold Eastern Financial Florida Credit Union, a failed Miami credit union acquired by Space Coast in 2009.

The judge’s order states the parties must agree to a mediator within 14 days and if there is no agreement the clerk of the court shall appoint a mediator. The mediation sessions shall be confidential and privileged.

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