MBL Rule Vindicated as ICBA Does Not Appeal Dismissal

WASHINGTON – CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) issued a statement Thursday on the Independent Community Bankers of America (ICBA) not filing any appeal, which was due Feb. 23, over U.S. District Court Judge James Cacheris’ granting the NCUA’s motion to dismiss the banking trade's lawsuit against NCUA and its member business lending rule.

“The court vindicated NCUA’s rulemaking by dismissing the ICBA’s lawsuit. The ICBA not appealing the motion to dismiss further proves that this was a meritless and frivolous lawsuit from the beginning," said Jim Nussle, president/CEO of CUNA and Dan Berger, president/CEO of NAFCU "Credit unions are always working in the best interests of their members and will continue to make member business loans to boost Main Street’s economy.”

in Industry News