The Credit Union National Association (CUNA) reaffirmed its support for the National Credit Union Administration’s (NCUA) recent rulemaking related to its field of membership rule.
“The NCUA acted well within its authority when it issued its field of membership rule. This meritless attack from bankers on the NCUA’s rule completely ignores both the law and the NCUA’s authority to regulate credit unions,” said CUNA President/CEO Jim Nussle. “The suit completely lacks worth, and CUNA and its partners will vigorously defend the rule on behalf of credit unions and the consumers that will benefit from the changes.”