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The NCUA's amended Field of Membership rule "obliterates" the limitations that Congress placed on credit unions, state banking and community banking trade groups said, in a brief filed in a federal appeals court Friday.
"The Final Rule is simply further effort by NCUA to expand the competitive advantages of Community Credit Unions," the Independent Community Bankers of America, 50 state banking associations and 25 community banking groups, said in the brief.
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