Another frivolous ADA suit dismissed days after CUNA, league file brief: CUNA has filed six amicus briefs backing up credit unions in predatory lawsuits filed by plaintiff’s lawyers attempting to exploit credit unions and abuse the American with Disabilities Act. In our latest, we joined with the Cornerstone League to support Local 20 IBEW FCU of Grand Prairie, Texas, and days after we filed the plaintiff voluntarily dismissed it. This sends a message that these kinds of lawsuits are not a winning strategy.
When the best offense is a strong defense: CUs left out of suggested regs: When Congress passed the Community Reinvestment Act to increase access to banking services to low- and moderate-income communities, it deliberately didn’t include credit unions. Our not-for-profit structure and well-earned reputation for inclusive lending proved we were already part of the solution.
So, when we found out the Treasury would be making recommendations to reform the Act, we met with them in January to explain this. In short, we told them we’re the good guys. Released on Tuesday, the Treasury’s report only mentions credit unions once—to note the CRA doesn’t apply to credit unions. This is good news, and an example of the kind of narrow regulation we advocate for in our Campaign for Common-Sense Regulation.continue reading »