Jim Nussle statement following FOM cross-appeal

FOR IMMEDIATE RELEASE

CONTACT: Lauren Williams – CUNA Communications; (202) 626-7642; lwilliams@cuna.coop          

Washington, DC (June 5, 2018) – Today Credit Union National Association President/CEO, Jim Nussle released the following statement after the American Bankers Association (ABA) filed a cross-appeal in response to NCUA’s appeal of the U.S. District Court ruling in ABA v. NCUA. 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.” Nussle said. “The ABA’s appeal of the decision only continues a long line of tireless attacks against credit unions by banks who make every attempt to limit Americans’ access to credit unions.”

CUNA reaffirms the position that the field of membership rule was properly promulgated by the agency and well within their express authority. We will continue to support rulemaking efforts to help credit unions provide services to consumers via expanded fields of membership as well.

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About CUNA   

Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 110 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org.