The American Bankers Association filed a cross-appeal in response to NCUA’s appeal of the U.S. District Court ruling regarding NCUA’s field-of-membership (FOM) rule. CUNA strongly supports NCUA’s appeal and further believes the court erred in its finding that the agency overstepped its statutory authority with regard to the combined statistical area approach and the definition of rural district.
“We believe the National Credit Union Administration’s had the authority to issue the field of membership rules in 2016 and support their appeal of the DC District Court’s summary judgment decision that held that part of the rule violated the Federal Credit Union Act,” said CUNA President/CEO Jim Nussle. “The ABA’s appeal of the decision only continues a long line of trite attacks against credit unions by banks who make every attempt to limit Americans’ access to credit unions.”
The court’s March ruling declared provisions that automatically qualify a combined statistical area (CSA) with fewer than 2.5 million people to be a local community and increase to one million people the population limit for rural districts to exceed the NCUA's statutory authority.
CUNA continues to affirm the position that the FOM rule was properly promulgated by the agency and well within the agency’s express authority. CUNA will continue to support rulemaking efforts to help credit unions provide services to consumers via expanded fields of membership.