WASHINGTON — The Pennsylvania Supreme Court ordered a lower court to re-hear a challenge to community charter approvals for three state-chartered credit unions.
In a 4-1 decision issued on Sept. 24, the justices said the Pennsylvania Department of Banking failed to adequately consider input from bankers when reviewing challenges to the community charters it granted to Corey Jamestown Credit Union, Freedom Credit Union and TruMark Financial Credit Union for the right to serve five counties in the Philadelphia area.
The exclusion of the Pennsylvania Bankers Association and Pennsylvania Business Bank as interveners "offended the most basic tenets of due process," the justices stated in their majority opinion.
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