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CUs, Trades Continue to Consider Appeal of Utah FOM Decision

ARLINGTON, Va.-Representatives from the national credit union trade associations who are intervenors in the Utah field of membership lawsuit are still mulling over whether or not to appeal Judge Dale Kimball's decision to remand the case. NAFCU General Counsel Bill Donovan explained that the intervenors still have plenty of time...

By Staff Writer | Updated on January 18, 2005

ARLINGTON, Va.-Representatives from the national credit union trade associations who are intervenors in the Utah field of membership lawsuit are still mulling over whether or not to appeal Judge Dale Kimball’s decision to remand the case. NAFCU General Counsel Bill Donovan explained that the intervenors still have plenty of time to decide their next move. “No, we have not made a final decision. The decision as to whether or not we wish to appeal is a decision that has to be made within a 60-day window of the judge’s ruling.So we don’t feel the need to rush in making that decision,” Donovan said. The lawsuit, brought by the American Bankers Association and other banking groups, questioned whether NCUA overstepped the `local’ community requirements in granting four Utah credit unions a six-county field of membership. The decision was handed down on Dec. 8. “NAFCU’s decision as to whether or not to appeal is one that we fully intend to make in consultation with the four credit unions involved as well as the other intervenor-defendants, CUNA and the Utah credit union association,” Donovan added. See related story on page 18.

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