CUNA stands steadfast in its support of the NCUA and its member business lending rule against a lawsuit challenging the rule, CUNA President/CEO Jim Nussle said.
The ICBA filed its lawsuit, ICBA v. NCUA, in the U.S. District Court of the Eastern District of Virginia in September.
CUNA promptly responded by passing a board resolution to reject the lawsuit and protect credit union interests.
CUNA subsequently teamed up with the National Association of Federal Credit Unions to retain Williams & Connolly LLP to challenge the ICBA lawsuit.
The NCUA filed its motion to dismiss the lawsuit earlier this month.