A federal judge on Wednesday voided a new regulation that allowed occupation-based credit unions to expand by broadening their charters.

After harshly scolding credit union regulators, U.S. District Judge Thomas P. Jackson overturned their Nov. 14 decision allowing credit unions created for the employees of one company to enroll all members of a trade, industry, or profession.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.