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News Now

CU System
Pennsylvania Supreme Court hears FOM case
HARRISBURG, Pa. (3/6/08)--The Pennsylvania Supreme Court heard oral arguments in Pittsburgh Tuesday in a case bankers have filed against the Pennsylvania Department of Banking on its community-chartering application process. The case, filed by the Pennsylvania Bankers Association, involves field-of-membership (FOM) issues and focuses on the application process for community charter, said the Pennsylvania Credit Union Association (PCUA) (Life is a Highway March 5). The Supreme Court case is an appeal relating to a Nov. 13, 2006, decision by the Pennsylvania Commonwealth Court that the department did not follow procedural due process requirements when it did not conduct hearings or make records available to banking interest groups, who oppose field of membership expansions (News Now Feb. 25). Attending were: Lonny Maurer, Belco Community CU, Harrisburg ; Lee MacMinn and John King of Freedom CU,Warminster; Rick Stipa of TruMark Financial CU, Trevose; Laurie Kennedy of the Pennsylvania Credit Union Association; Linda Carroll of the banking department; and representatives of the credit unions' outside law firms: Blank Rome and Stradley Ronon. "We felt the credit unions and the Department of Banking put on our best case," said PCUA's Kennedy. "Now we will await a decision by the State Supreme Court."


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