ICBA’s legal battle against the NCUA will determine whether the agency may continue sidestepping Congress to the benefit of the tax-exempt industry it is charged with regulating, ICBA President and CEO Cam Fine wrote in a new op-ed.
In American Banker, Fine wrote that the NCUA’s member-business-lending rule expands government-sponsored advantages for credit unions, introduces new risks to the financial system, and is illegal based on existing law. Read the Op-Ed.