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Claiming a partial victory in a lawsuit. Source: Shutterstock.

The American Bankers Association Tuesday declared a limited victory in its lawsuit challenging the NCUA’s Field of Membership rules and vowed to continue to fight credit unions that want to expand their reach.

“The court affirmed the basic principle that NCUA approval of field of membership expansions is not limitless,” ABA President/CEO Rob Nichols said. “We will review the ruling in detail as we determine our next steps to ensure NCUA doesn’t violate the expansion parameters set by Congress.”

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David Baumann


Credit Union Times

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