Bankers Want Broad Review Of NCUA's FOM
The American Bankers Association asked a federal court here to permit broad discovery, or review, of regulatory documents related to its decision making on field of membership cases, which could open a whole new can of worms on the field of membership (FOM) disputes with the bankers.
The bankers made their request as part of their suit challenging three broad community charters granted in Pennsylvania to Members 1st FCU, AmeriChoice FCU and New Cumberland FCU.
The request is being opposed by NCUA, as well as CUNA and NAFCU, which generally act as intervenors in FOM cases brought by the bankers, saying the federal court should have some deference for the agency's administrative authority.
The FOM challenge, which is expected to take years to resolve, is one of three pending in the courts, along with bankers' suits in Utah challenging NCUA's policies, and in Missouri challenging the state rules.
Ed Roberts can be reached at robertscuj