Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA NAFCU file brief in conversion lawsuit
WASHINGTON (5/5/08)—A lower court ruling dismissing the Coalition for Credit Union Charter Option’s (CCUCO’s) legal challenge against the National Credit Union Administration (NCUA) should be upheld on appeal, said the Credit Union National Association (CUNA) and the National Association of Federal Credit Union (NAFCU) in a joint amicus brief. CUNA General Counsel Eric Richard said of the case, “So far, CCUCO's lawsuit has gotten nowhere, and we think that is for good reason. We are urging the Fourth U.S. Circuit Court of Appeals to affirm the decision of the district court." The brief, filed Friday, noted that the plaintiff has repeatedly failed to show it has standing in the case that challenges the NCUA’s conversion regulations. CCUCO, it argues, has not produced a single member that has been or will be injured by the NCUA conversion rule CCUCO is protesting in court. The joint brief says that CCUCO has failed to:
* Demonstrate that it is an organization capable of asserting associational standing; and * Identify a single credit union member that would have standing in its own right.
“The Coalitions’ complaint did not identify any of its alleged credit union members, let alone any specific members that have been injured by the challenged regulations,” the amicus brief argues. “Nor did the Coalition disclose to the district court (or to this court) that its ‘members’ also include banks and companies serving banks.” Those omissions, the brief asserts, may “suggest the possibility that the Coalition is not acting as a representative of its alleged credit union members but rather is a stalking horse for members of the thrift banking and mutual savings bank conversion industries that seek to encourage credit unions to convert to banks.”


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
8 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
9 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
11 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
11 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
11 hours ago