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ABA Complains Proposed Sponsor Expansion Creates Overly Broad FOM


The American Bankers Association (ABA) complained in a letter sent to the National Credit Union Administration (NCUA) that Thrivent FCU sponsor’s expansion of its common bond from Lutheran to all Christians would create a field of membership (FOM) that is overly broad. The sponsor, Thrivent Financial for Lutherans, is scheduled to vote in March whether to expand its common bond membership from Lutheran to Christian. The ABA worries that this would automatically expand Thrivent FCU’s field of membership to all Christians, which it feels is overly broad.

Posted By Sharon Bahr read more
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