The country’s bankers are cheering a decision from a federal court that found a regulator went too far in expanding credit unions’ fields of membership.

A complaint was filed during 2016 by the American Bankers Association against the National Credit Union Administration in U.S. District Court for the District of Columbia.

According to a Memorandum Opinion Thursday from U.S. District Judge Dabney L. Friedrich, ABA challenged four definitional decisions made by the NCUA in its 2016 Field of Membership rule.


Source: Mortgage Daily