NCUA’s Next Steps After Court Denies ABA’s FOM Petition

NCUA

On June 29, the U.S. Supreme Court denied the American Bankers Association’s petition to review the D.C. Circuit Court of Appeal’s decision on the National Credit Union Administration’s (NCUA) field-of-membership rules. This ends nearly four years of uncertainty and helps the NCUA foster greater financial inclusion for all Americans.

The lack of financial access is especially prevalent in rural communities, which have experienced the withdrawal of financial institutions over the last decade. The court’s decision will assist NCUA’s efforts to bring these important and often overlooked communities back into the financial mainstream.

The NCUA is in the process of reinstating the rural districts for 18 credit unions that had these removed due to the American Bankers Association lawsuit. You can read more in NCUA’s Letter to Credit Unions 20-CU-21.

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