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About: Credit Union Membership Access Act     Goto   Sponge   NotDistinct   Permalink

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The Credit Union Membership Access Act is an Act for the United States government that amended the Federal Credit Union Act in 1998. The bill was proposed on the heels of the Supreme Court decision in NCUA v. First National Bank & Trust against the National Credit Union Administration, a key victory in the American Bankers Association's legislative agenda and a major setback to credit unions. The Act reversed this ruling, authorizing credit unions to have multiple common bonds among their memberships.