Responding to the trade group’s petition opposing the agency’s field-of-membership rule filed in federal court, the National Credit Union Administration argued that a banking trade group did not present a an adequate argument for rehearing court decision on the rule’s validity.
A three-judge panel ruled in August that NCUA could define a “local community” as a combined statistical area inhabited by up to 2.5 million people or define an entire state as a “rural district.”
Learn more details about the arguments presented and the agency’s proposed rule amendments.