CUNA and the National Association of Federal Credit Unions (NAFCU) joined forces Thursday in their commitment to protecting credit unions' interests. The trade associations plan to use Williams & Connolly LLP to challenge a lawsuit recently filed by the Independent Community Bankers of America (ICBA) against the NCUA and its member business lending rule.
“With approximately 6,000 credit unions that represent nearly 105 million Americans, the CUNA/league system and NAFCU will take whatever actions are necessary to protect and defend the interests of credit unions and small businesses,” said Jim Nussle, president/CEO of CUNA, and Dan Berger, president/CEO of NAFCU. “Our trade associations support the NCUA’s member business lending rule, which is consistent with the law and allows small businesses more access to the capital they need.”
The ICBA filed its lawsuit earlier this month. The CUNA board responded by passing a resolution stating CUNA’s commitment to protecting credit union interests.