Bankers file ‘cross appeal’ in ruling on NCUA FOM regs

June 6, 2018 -- A federal court’s ruling on credit union membership rules that essentially gave both sides in the case something to call both a win and a loss has now been appealed by the two parties in the case, NCUA and the American Bankers Association (ABA).

Tuesday, the bankers' group filed its “notice of cross appeal” with the U.S. Court of Appeals for the District of Columbia, asking the panel to review a March 29 decision by the lower court, in particular that section of the ruling that upheld a portion of NCUA’s “field of membership” rules. That portion of the agency’s final rule permitted a credit union to serve a portion of a “Core-Based Statistical Area” that does not include the “core area.”

The move by the bankers’ association comes after NCUA’s own May 23 decision to appeal portions of the ruling. The NCUA appeal asks the panel to review the district court’s decision on the two vacated portions of its regulation on “combined statistical area” and on raising to 1 million people the population limit for rural districts that may be served.

LINK:

NASCUS summary analysis of court's decision in FOM challenge (members only)