ICBA’s Credit Union Litigation Fund
· On September 7, 2016, the Independent Community Bankers of America filed a lawsuit against the National Credit Union Administration for approving a final rule that allows credit unions to unlawfully exceed commercial lending limits set by Congress.
· ICBA has filed suit because it is the right thing to do for our community banks, our economy and our nation’s financial services industry.
· The lawsuit clearly struck a chord among community bankers.
· ICBA received hundreds of responses from community bankers who asked how they can assist ICBA in its legal challenge against the tax-exempt industry’s regulatory “rubber stamp.”
· In response to this outpouring of support, ICBA has established the ICBA Credit Union Litigation Fund. The fund allows community bankers to directly challenge the taxpayer-subsidized industry’s efforts to unlawfully expand its powers by participating financially in the fight. For more information, visit: www.icba.org/StopTheCUGrab
· All contributions to the ICBA Credit Union Litigation Fund are strictly voluntary and will be directed solely to the association’s campaign to level the playing field through the courts.
· While we know this fight will be expensive, ICBA is fully prepared to do whatever is necessary to achieve a successful outcome with both the Member Business Lending and soon-to-be released Field of Membership rules.
· There are two ways to make monetary contributions to help overturn the NCUA’s illegal rulemaking and expose the agency as the industry’s cheerleader.
1. Simply return your contribution in the postage-paid envelope to: ICBA Credit Union Litigation Fund, Attention: Cam Fine, 1615 L Street NW, Suite 900, Washington, DC 20036. Funds may be corporate, personal, or both.
2. Contribute via mobile device*. Simply text “ICBA” to the number 56512. You’ll receive an immediate text back with a link to securely use your credit card for the contribution. (*Message & data rates may apply)