Thursday, January 4, 2018

NCUA Approves Combined Statistical Area that Had Previously Been Rejected by Federal Court

The National Credit Union Administration (NCUA) in October approved a community charter that was previously rejected by a federal district court.

NCUA granted a community charter to New Cumberland Federal Credit Union serving the Combined Statistical Area of Adams, Cumberland, Dauphin, Lebanon, Perry and York Counties in Pennsylvania.

NCUA amended its regulations governing community charters by recognizing that a Combined Statistical Area with a population up to 2.5 million as a de facto well-defined. local community.

The Harrisburg-York-Lebanon Combined Statistical Area is comprised of four metropolitan statistical areas.

New Cumberland FCU had previously been granted this six-county region, but a federal judge in 2008 ruled that this region did not meet the requirement of being a local community.

The federal judge wrote "[t]o a casual observer familiar with central Pennsylvania, it would likely be a remarkable finding that . . . a geographical area of more than 3,000 square miles with a population of over 1.1 million people ... constituted a 'well-defined local community.'"





Posted by at
Labels: , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.