The Independent Community Bankers of America filed suit infederal court on Wednesday, challenging the NCUA's new MBL rules,contending that the regulations allow credit unions to exceedlimitations on business loans that were established byCongress.

In the suit, the ICBA argues that at the same time, the agency is looseningregulatory oversight, creating risks for consumers and thefinancial system.

In the suit, filed in U.S. District Court for the EasternDistrict of Virginia, the ICBA asks that the rules be voided.

What do you think about the ICBA lawsuitagainst the NCUA over MBL rules?
The NCUA has donenothing wrong. The ICBA has agood point. Credit unions needmore lending flexibility. I'm notworried. OtherPlease Specify:

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The new rules allow credit unions to exceed limitations placedon it by Congress and gives the institutions a huge advantage overcommunity banks, since credit unions are tax exempt, the ICBAsaid.

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