WASHINGTON — America’s Community Bankers has filed a memorandum with the federal district court in Newark, N.J. in support of Spencer Savings Bank, a state-chartered mutual savings association that is opposing the efforts of an activist depositor group to gain control of its board of directors.

The memorandum supports a private right of action for the Elmwood Park, N.J.-based institution to seek judicial relief from the takeover attempt. Spencer has asked the court to enjoin the defendants from furthering their efforts to acquire control, and for damages.

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