July 13, 2012 – Hudson Valley FCU of Poughkeepsie, N.Y., filed its opposition brief this week to banking trades’ amicus brief in the credit union’s appeal over New York state’s mortgage recording tax.
Hudson Valley filed suit over the tax in 2009. It is challenging the state’s levy of a mortgage recording tax on mortgages given to secure loans made by federal credit unions. NAFCU, in line with its goal to preserve credit unions’ tax-exempt status, has filed amici briefs at various stages of the case supporting Hudson Valley.
The credit union brief, filed July 10, is the final reply required of the credit union until oral arguments, which are slated Sept. 4.