The American Bankers Association (ABA) recently filed a motion for leave to submit an amicus brief supporting the Independent Community Bankers of America’s lawsuit against the National Credit Union Administration (NCUA) regarding its revised member business loan rule, which is scheduled to go into effect in January.
ABA also is suggesting that a decision on its motion be delayed until the District Court for the Eastern District of Virginia decides on NCUA’s motion for dismissal, according to a press release.
Read on to learn more about arguments for and against the rule.