Trades restate support for credit union business lending as NCUA files for dismissal of banker suit
WASHINGTON, DC (November 3, 2016) — 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.
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
About NAFCU
The National Association of Federal Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
