High Court Review Of FCUA’s Credit Union Tax Exemption Provision Sought

(March 23, 2022, 12:54 PM EDT) -- WASHINGTON, D.C. — U.S. Supreme Court review of a New York Court of Appeals ruling denying a credit union member’s request to appeal a state appellate court’s ruling upholding the dismissal of its class action seeking refunds of mortgage recording taxes (MRT) borrowers paid for loans obtained by federal credit unions is warranted because the New York state courts’ decisions conflict with federal appellate court rulings interpreting the Federal Credit Union Act (FCUA) “and similar federal tax exemptions vis-à-vis similar taxes,” the homebuilder argues in a March 11 petition for writ of certiorari filed in the U.S. Supreme Court....