NCUA expected to announce appeal on FOM lawsuit

Sources close to the LSCU expect the NCUA to soon announce they will be filing an appeal of the decision on the field-of-membership (FOM) lawsuit brought by the American Bankers Association (ABA). In March, the U.S. District Court for the District of Columbia upheld two challenged portions of the NCUA’s field of membership rule and […]

Sources close to the LSCU expect the NCUA to soon announce they will be filing an appeal of the decision on the field-of-membership (FOM) lawsuit brought by the American Bankers Association (ABA).

In March, the U.S. District Court for the District of Columbia upheld two challenged portions of the NCUA’s field of membership rule and struck down two provisions in the ABA lawsuit. The provisions declared to exceed the NCUA’s statutory authority include those that automatically qualify a combined statistical area (CSA) with fewer than 2.5 million people to be a local community and the increase to 1 million people the population limit for rural districts.

According to the D.C. Circuit Court of Appeals’ briefing schedule for the appeal, NCUA would be required to submit a brief by Dec. 5, with amicus briefs in support of NCUA due Dec. 12. ABA’s opening brief is due Jan. 4, NCUA’s reply is due Feb. 4, and ABA’s cross-appeal reply is due Feb. 19.

The LSCU will follow up with reports as more information is available.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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