Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Pennsylvania Supreme Court sends case back to lower court
HARRISBURG, Pa. (9/29/08)--The Pennsylvania Supreme Court issued a procedural ruling Thursday sending court cases involving community charters back to the lower Commonwealth Court. The cases involve five-county community charters granted to Freedom CU, Warminster, and TruMark Financial CU, Trevose (Life is A Highway Sept. 26). The Commonwealth Court will decide whether the Pennsylvania Department of Banking properly approved the five-county community charters applied for by the credit unions. The ruling has no impact on the credit unions’ community charters or members, the Pennsylvania Credit Union Association (PCUA) said. No time frame has been set for the commonwealth court’s review, PCUA said. The litigation involves the Pennsylvania Bankers Association, Pennsylvania Department of Banking, and the two credit unions. The case began in 2004 when bankers challenged the department of banking's decision to approve community charters. It then was considered by the Commonwealth Court at the appellate level, and last week before the Supreme Court. At issue is the Pennsylvania's Commonwealth Court's 2006 ruling, by 7-0 tally, in favor of the state department of banking secretary's decision to allow community charters for the two credit unions. The court dismissed the bankers' challenges, and bankers filed an appeal on April 28, 2006 (News Now April 12).


RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
14 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
15 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
17 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
17 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
20 hours ago