Banking: Bureau of Financial Institutions Hearing

For decades, actions by Maine financial institutions often required a hearing before the Bureau of Financial Institutions – even establishing a bank branch could involve adjudication. In one of the last fully litigated proceedings before the Bureau, in the mid-1990’s, we represented a coalition of Maine banks concerned about an application by a credit union to expand its field of membership. The case eventually went to hearing before the regulators, and oral argument, expert testimony, and briefs were submitted. Eventually, the Bureau agreed with our argument on behalf of Maine banks that the credit union’s application was too broad, and the field of membership was scaled back.