Removing Barriers Blog

MBL Motion to Dismiss Hearing
Posted December 15, 2016 by CUNA Advocacy

Today a motion to dismiss the Independent Community Bankers of America’s (ICBA) lawsuit over NCUA’s recent member business lending (MBL) regulation was held in the United States District Court Eastern District of Virginia in Alexandria, Va.. The court heard arguments from the U.S Attorney, who is representing NCUA and ICBA’s attorney. The court indicated that they will likely rule on the motion sometime after Jan. 1.

The ICBA filed its suit against the NCUA’s member business lending rule in September, and the NCUA filed its motion to dismiss in response. CUNA and the National Association of Federal Credit Unions filed an amicus brief last month supporting the NCUA’s motion to dismiss.