The Credit Union National Association (CUNA) and the National Association of Federal Credit Unions (NAFCU) reaffirmed their support for the National Credit Union Administration (NCUA) in its challenge of the lawsuit recently filed by the Independent Community Bankers of America (ICBA) against the agency and its member business lending rule. NCUA today filed its brief seeking dismissal of the lawsuit.
“As our two organizations have stated, the NCUA acted well within its authority when it issued its member business lending rule. Submitting a motion to dismiss this baseless attack is the logical next step for the agency in defending that right. For our part, the CUNA/League system and NAFCU will continue to work collaboratively to defend the NCUA’s authority to interpret the Federal Credit Union Act. Ensuring small businesses have access to much-needed capital remains a top priority for the credit union industry,” said Dan Berger, president/CEO of NAFCU, and Jim Nussle, president/CEO of CUNA.