Monday, June 29, 2020

Certiorari Denied in ABA's Appeal regarding NCUA's FOM

The Supreme Court on June 29 denied to hear an appeal of the American Bankers Association lawsuit against the National Credit Union Administration regarding the agency' field of membership (FOM) rule.

2 comments:

  1. I see credit union advocates are now pushing for ending FOMs all together. How about a compromise? End FOMs but change the CU tax exemption to only apply to mutual banks and credit unions with assets of under $100 million. Seems like small banks and credit unions need all the help they can get these days while large credit unions currently have an unfair advantage against community banks.

    ReplyDelete
    Replies
    1. Then how about legislation to limit the size of banks to $500 billion? No need for any institution larger than that. These large TBIF banks prove constantly they are anti-consumer and prove it every chance they get.

      Delete

 

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.