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The discussion of “bank” as a verb.

It’s not clear yet whether the Wisconsin Bankers Association will legally challenge the NCUA’s opinion letter that says the Federal Credit Union Act and the independent federal agency’s advertising rule preempts Wisconsin’s laws with respect to a federally insured credit union’s use of the word, bank, as a verb.

But it sure sounds like the Badger State bankers are gearing up for what could be a new legal battle after describing NCUA’s May 11th letter as flawed, ludicrous, and whether it has the authority to issue an opinion letter.

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Peter Strozniak


Credit Union Times

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