The American Bankers Association said it plans to sue the National Credit Union Administration today in a bid to overturn an expansive new membership rule.

The planned lawsuit takes aim at several provisions of the rule, including one that makes it harder for a company with fewer than 3,000 employees to form a new credit union than to join an existing one.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.