WASHINGTON -
CCUCO filed its notice of appeal Jan. 7 in the U.S. Court of Appeals for the Fourth Circuit, located in Richmond, Va., after the court ruled the Coalition for CU Charter Options lacked standing to bring suit.
CCUCO had until Jan. 17 to request portions of the trial court’s transcript that it plans to use in its arguments to the appeals court. It then has 40 days from when it files the record with the appeals court’s clerk in which to file its appellate brief. NCUA, represented by the Department of Justice, will then have 30 days from the time CCUCO files its brief to file a brief of its own.
In its ruling, the court found the coalition failed to show that any of its members were directly damaged or affected by the NCUA’s new conversion rules and therefore lacked the “standing” to file the suit that sought to oveturn the agency’s conversion rules.
In its short published opinion, the court concluded that NCUA has authority to regulate conversions. It also stated that the Coalition had not shown that any of its members were harmed by the regulations or that any of its members have immediate plans to come under the rules through a conversion application.
