The agency that regulates credit unions in Washington state has suspended hearings on the new MBL rule designed to expand business lending after a banking organization filed suit challenging the rules.
The Washington State Division of Credit Unions said it temporarily suspended the four hearings scheduled for this fall at the request of "some of Washington state-chartered credit unions." The hearings were to update the Washington State MBL Rule.
The turnabout came after the Independent Community Bankers of America filed suit Sept. 7 in federal court asking that the NCUA vacate the rule it approved in February. The ICBA accuses the NCUA of overstepping its authority and being unfair to for-profit banks.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
