Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Bankers file brief ask for FOM reversals
HARRISBURG, Pa. (8/25/08)--Bankers have filed a brief in the U.S. District Court in Pennsylvania asking that approvals of three field-of-membership (FOM) expansions be set aside and returned to the National Credit Union Administration (NCUA) for more review. NCUA had approved FOM expansions involving three six-county communities in central Pennsylvania in 2003. The brief was filed in response to U.S. District Court Judge Yvette Kane’s decision in July that NCUA’s record was insufficient to sustain the agency's decision to grant the six-county-area, according to the Pennsylvania Credit Union Association (Life is a Highway Aug. 22). Bankers are asking the court to return AmeriChoice FCU, Mechanicsburg; Members 1st FCU, Mechanicsburg; and New Cumberland (Pa.) FCU to their original fields of membership. The document filed by the bankers does not ask for the credit unions to divest the members who were added as a result of the six-county area approved by NCUA. NCUA and the credit unions’ responses are due Sept. 4.


RSS print
News Now LiveWire
Fin. lit. ideas percolate during .@NW_Banking #tweetchat #NewsNow http://t.co/nSS9Iiw0e0
3 minutes ago
New video from @mncreditunions Minnesotans share why they love their #creditunions http://t.co/ywfHfVcqm4
5 minutes ago
.@BankOnMo hits the gas with social contest at Mo. #creditunions https://t.co/dxfkgq5xDv
46 minutes ago
#NewsNow: Balance needed between 'safety and soundess' and credit availability @CUNA tells @FHFA http://t.co/jAI6sJ3Poo
1 hours ago
#NewsNow No stretch for CU to loan to fledgling yoga studio http://t.co/4ryQisBtW1
2 hours ago