The NCUA is asking a federal judge to reject the American Bankers Association challenge to the agency's recent field of membership rules, contending that the new regulations do not violate federal law.
Congress gave the agency discretion in defining fields of membership, the NCUA said.
"Congress did not define 'local community' or 'rural district,' and the statute imposes no size or population limit on those terms," the NCUA said, in asking U.S. District Judge Ketanji Brown Jackson to reject the ABA's request for a summary judgement and to grant a similar judgement to the NCUA. "Rather, Congress directed NCUA to prescribe, by regulation, a definition for the term well-defined local community, neighborhood, or rural district."
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