Supreme Court of the United States
National Credit Union Administration v. First National Bank & Trust Co.
February 25, 1998522 U.S. 479
Summary
The Court held that the banks have prudential standing to challenge the NCUA’s chartering decision and that the NCUA’s interpretation of the common‑bond requirement in §109 of the Federal Credit Union Act is impermissible under the first step of Chevron, affirming the Court of Appeals.
Holding
- Whether the banks have prudential standing under the APA to challenge the NCUA’s interpretation of §109.. Yes, the banks have standing because their competitive interest in limiting the markets that federal credit unions can serve is arguably within the zone of interests protected by §109.
- Whether the NCUA’s interpretation of the common‑bond requirement in §109 is permissible under Chevron deference.. No, the NCUA’s interpretation is impermissible because the first step of Chevron shows that Congress unambiguously required a single common bond to unite all members of an occupationally defined credit union.
Docket 96-843
Cited authorities
- 12 U.S.C. §§ 1757
- 48 Stat. 1219
- 12 U.S.C. § 1759
- 12 U.S.C. § 1759
- 47 FR 16775
- 47 FR 26808
- 54 FR 31170
- 5 U.S.C. §702