Circuit Court Set To Hear Oral Arguments In Banker’s FOM Lawsuit

DC Court of Appeals

WASHINGTON—The D.C. Circuit Court of Appeals has scheduled oral arguments for the lawsuit challenging NCUA’s field-of-membership rule for April 16 at 9:30 a.m. (ET).

CUNA said it will attend, and previously filed a brief in support of NCUA’s rule, as has NAFCU and other organizations.

As reported, NCUA finalized its FOM rule in October 2016, and the American Bankers Association sued the agency in December 2016.

The U.S. District Court of the District of Columbia ruled in March 2018, upholding two challenged portions of the rule and striking down two provisions.

NCUA filed its appeal in December, and CUNA joined with CUNA Mutual Group and NAFCU to file a brief supporting NCUA’s appeal shortly afterward.

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