IN WAKE OF DECISION UPHOLDING MOST OF NCUA’S FOM RULE, ITO PRAISES NCUA’S DETERMINATION TO MAINTAIN AN EFFECTIVE FEDERAL CHARTER

FOR IMMEDIATE RELEASE

August 20, 2019

CONTACT: Shelton Roulhac, NASCUS Communications; [email protected]

IN WAKE OF DECISION UPHOLDING MOST OF NCUA’S FOM RULE, ITO PRAISES NCUA’S DETERMINATION TO MAINTAIN AN EFFECTIVE FEDERAL CHARTER

Arlington, VA –  In a victory for NCUA and the credit union system, the District of Columbia Circuit Court of Appeals upheld virtually all aspects of NCUA’s Field of Membership Rule, overturning the lower district court which had struck down two provisions of the rule.

NASCUS President and CEO Lucy Ito issued the following statement in response to the ruling:

“NASCUS congratulates NCUA on the field of membership ruling and commends the Agency’s efforts to maintain an effective federal charter. We have long held that a competitive federal charter is vital to preserving a robust dual charter system and today’s ruling certainly advances that goal.”

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Information Contact:

Shelton Roulhac, Vice President, Communications, [email protected] (703) 528-5974

NASCUS is the national association that advocates for a strong and healthy state credit union system, and whose members include state regulatory agencies, credit unions, credit union leagues, and organizations that support the state credit union system.