October 7, 1997 |
The showdown between commercial banks and nonprofit credit unions reached the Supreme Court on Monday, and the banks appeared to emerge with a slight edge after the hourlong argument. At issue is the banks' challenge to the rapid expansion of credit unions since 1982. That year, federal regulators changed the rules and allowed local nonprofit credit associations to expand their memberships nationwide.
October 29, 1996 |
Banks have won a key court battle against credit unions that could force millions of Americans out of the lower-cost financial organizations. However, the National Credit Union Administration, which regulates credit unions, said it plans to appeal the U.S. District Court ruling, handed down late Friday, to the Supreme Court.