Bankers Tell Supreme Court That NCUA is Using ‘Extravagant Interpretations’ to Stretch Fields of Membership

June 10, 2020David BaumannCourts

The National Credit Union Administration is using “extravagant interpretations” of federal law to allow credit unions to expand their fields of membership far beyond the restrictions imposed by Congress, the American Bankers Association told the U.S. Supreme Court in a brief filed on Tuesday.

NCUA Tells Supreme Court That Agency Has Broad Discretion in Defining Fields of Membership

May 26, 2020David BaumannCourts

Congress has given the National Credit Union Administration wide authority to define credit union fields of membership, the agency told the U.S. Supreme Court Tuesday, challenging arguments made by the nation’s bankers.

NCUA Response to ABA Field of Membership Challenge Now Due May 26

May 13, 2020David BaumannCourts

The U.S. Supreme Court has given the National Credit Union Administration until May 26 to respond to a petition filed by the American Bankers Association challenging the agency’s Field of Membership rules. The ABA had challenged the rule amended in 2016.

Washington Credit Union Daily

Reporting on regulations, legislation and political developments affecting credit unions.

Washington Credit Union Daily

Reporting on regulations, legislation and political developments affecting credit unions.