Summary judgment hearing for FOM suit set for March 14
The U.S. District Court for the District of Columbia has scheduled a hearing on the summary judgment motions in the lawsuit against NCUA's field-of-membership rule for 10 a.m. (ET) on March 14.
NCUA finalized its rule in October 2016, which provides more flexibility in the definition of communities, facilitates consumer and small business access to credit unions and makes it easier for credit unions to serve their members.
The American Bankers Association filed its lawsuit in December 2016 alleging that NCUA overstepped their authority when issued the rule. NCUA filed a motion to dismiss in March and CUNA filed a joint amicus brief supporting NCUA in June.