On November 7, 2019, the National Credit Union Administration (NCUA) published a proposed rule, with a 30-day comment period, to amend its Chartering and Field of Membership (FOM) Manual (Chartering Manual) to provide community credit unions with greater flexibility to include certain geographic areas in their FOMs. The proposal makes and clarifies changes consistent with the August 2019 opinion from the D.C. Circuit Court in the bankers’ lawsuit against the 2016 FOM final rule.
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