Saying that the NCUA’s new Field of Membership rules are “arbitrary, capricious, an abuse of discretion” the American Bankers Association has asked a federal judge to nullify the regulations.

In asking U.S. District Judge Ketanji Brown Jackson to approve its request for a Summary Judgment, the bankers said the NCUA has eroded the statutory restrictions that allow credit unions to operate.

David Baumann

 

Credit Union Times

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