American Bankers Ass'n v. National Credit Union Administration
District Court, District of Columbia
1Opinion of the Court
MEMORANDUM OPINION
KOLLAR-KOTELLY, District Judge.
For years, the National Credit Union Administration (NCUA) interpreted Section 109 of the Federal Credit Union Act (FCUA), 12 U.S.C. § 1759, to permit various employment groups, each one united by its own peculiar occupational bond but otherwise unrelated to another group, to coalesce and form a “multiple common-bond” credit union. See Interpretative Ruling and Policy Statement (IRPS) 82-1, 47 Fed.Reg. 16775 (1982). Early last year, after the issue had been volleyed twice between this Circuit’s trial and appellate courts, the Supreme Court held…
2Cases cited44 opinions
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