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Credit union trade groups on Wednesday blasted the Independent Community Bankers of America for filing suit over the NCUA’s new MBL rules, contending that the suit amounts to a publicity stunt and a baseless attack on credit unions.

“This suit raises to a new level the banking trade’s campaign of misinformation and attempted intimidation in its effort to hinder credit unions’ ability to serve their member small businesses,” said NAFCU President/CEO Dan Berger.

What do you think about the ICBA lawsuit against the NCUA over MBL rules?
The NCUA has done nothing wrong. The ICBA has a good point. Credit unions need more lending flexibility. I’m not worried. Other Please Specify:

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The ICBA filed suit in federal court in Virginia, arguing that the new rules allow credit unions to exceed limitations on business loans that were established by Congress. The group also argues that the agency is loosening regulatory oversight, creating risks for consumers and the financial system.

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David Baumann

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