WASHINGTON — While on the sidelines for the last year, CUNA has now filed an amicus brief in the Kentucky court case dealing with another banker-driven challenge to community charters.
This time CUNA has filed an amicus brief with the Kentucky Court of Appeals on a two-year-old suit brought against the state regulator by an Ashland thrift and the Kentucky Bankers Association.
In court papers, CUNA argued that a lower court erred when it applied federal administrative law precedents–rather than state rules–to a CU field of membership lawsuit brought in May 2006 by Home Federal Savings & Loan and the KBA. The suit seeks to bar the state regulator from approving field of membership expansions for six Kentucky CUs on common bond and tax exemption grounds.
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