CUNA joined the National Association for Federally Insured Credit Unions and CUNA Mutual Group Thursday to file a brief in support of NCUA and its FOM rule, which was challenged by the American Bankers Association.
NCUA filed its opening brief in its appeal against a ruling regarding its field-of-membership rule, arguing its changes to FOM regulations are within its statutory authority. CUNA will file an amicus brief in support of NCUA by Dec. 13.
The D.C. Circuit Court of Appeals has set a briefing schedule for the appeal of the field-of-membership lawsuit brought against NCUA by the ABA. CUNA fully supports NCUA in its appeal, and plans to submit an amicus brief.
NCUA finalized a field-of-membership rule Thursday allowing credit unions the option to submit an application to serve a well-defined local community exceeding 2.5 million people under a narrative approach, among other changes.
The NCUA filed a response to the lawsuit against its final field-of-membership rule brought by the American Bankers Association. CUNA is tracking the lawsuit, and plans to support the NCUA in its defense of the rule.
The NCUA board voted Thursday to finalize its field-of-membership rule, a rule CUNA President/CEO Jim Nussle praised for providing much needed regulatory relief. NCUA also issued for a proposed rule with additional changes CUNA has advocated for.
WASHINGTON (3/9/16)--CUNA Chief Advocacy Officer Ryan Donovan took to Credit Union Journal Tuesday to dispel the latest falsehoods from bankers regarding the credit union tax status and proposed field-of-membership modernizations.
WASHINGTON (3/9/16)--Modernizing field-of-membership regulations would expand access to financial products and increase competition, thereby benefiting the American public, two congressmen told the National Credit Union Administration (NCUA) this month. Reps. Pete Aguilar (D-Calif.) and Paul Cook (R-Calif.) said the NCUA’s proposal will allow credit unions to continue to meet the needs of consumers, small businesses and the underserved.
WASHINGTON (2/16/16)--Sen. Barbara Boxer (D-Calif.) became the first senator to publicly come out in support of the National Credit Union Administration’s field-of-membership proposal in a letter sent last week.