NCUA CU Express: Chairman Hood: NCUA Will Take Phased Approach to Implement FOM Rule

Chairman Hood: NCUA Will Take Phased Approach to Implement FOM Rule

ALEXANDRIA, Va. (Sept. 4, 2019) – National Credit Union Administration Chairman Rodney E. Hood issued the following detailed statement in response to the Aug. 20, 2019, D.C. Circuit Court of Appeals decision in American Bankers Association v. National Credit Union Administration:

“In response to the D.C. Circuit’s ruling, which largely upholds the NCUA’s field-of-membership rules, the NCUA will take a phased approach to implementing this decision. Such a phased approach is necessary because the D.C. Circuit’s ruling remains subject to requests for further review.”

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