CU system sees major victory as SCOTUS denies ABA appeal on FOM rule


The U.S. Supreme Court today denied an appeal from the American Bankers Association (ABA) to void NCUA field of membership (FOM) rule, a decision that marks the end of bankers’ nearly four-year battle to undo NCUA’s FOM rule finalized in October 2016. CUNA has long supported the rule and NCUA’s authority to provide oversight for the credit union industry.