August 21, 2019 / 1:15 PM / 2 months ago

D.C. Circuit reverses ruling in banking-credit union turf war; wary of discrimination

A federal appeals court on Tuesday reinstated two parts of a 2016 regulation designed to spur the growth of federal credit unions in rural areas and multi-city regions, but said the establishment of suburban-only credit unions that exclude the urban core raised possible discrimination concerns.

The U.S. Court of Appeals for the District of Columbia Circuit reversed a lower court’s mixed ruling in a literal turf war between the American Bankers Association and the National Credit Union Administration, which charters and oversees federal credit unions.

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