A federal court ruled in favor of the National Credit Union Administration in an ongoing dispute with the American Bankers Association over the agency’s 2016 field-of-membership (FOM) rule, but left open the possibility for further debate over ABA’s argument that the rule could come with redlining risk.
Trade associations supporting both sides of the dispute weighed in on the three-judge panel’s ruling.
Find out what reasoning the judges offered for their opinion.