NCUA Considers Appeal of FOM Ruling

NCUA Outlines Implementation of Ruling in Court Filing

The NCUA noted in a court filing that it is considering appealing the U.S. District Court for the District of Columbia’s ruling that struck down portions of its field-of-membership (FOM) rule. The NCUA outlined how it will implement the decision in a notice to the court on Thursday. Credit unions are advised that members who joined on or before April 4, under the expanded definition of rural district and combined statistical area, may remain enrolled, however the NCUA will not grant any new community charters under the expanded definition.