The National Credit Union Administration, filed a reply brief yesterday in the ABA-initiated case challenging NCUA’s final rule to expand credit union fields of membership far beyond the limitations imposed by Congress. The brief reiterated NCUA’s claim that it acted within its statutory authority and that the rulemaking was reasonable, and called for the dismissal of ABA’s case.
ABA specifically challenged the inclusions of combined statistical areas — which encompass multiple metropolitan statistical areas — as “local communities”; the ability of credit unions to serve core-based statistical areas without serving the urban core that defines the area; the ability to add “adjacent areas” to existing community fields of membership; and the dramatic expansion of what constitutes a rural district.
With NCUA’s reply, the case is now fully briefed. A decision is expected from Judge Ketanji Jackson in the near future on whether to hold oral arguments.Email This Post