NAFCU

Latest ADA website lawsuit against a credit union filed in Eastern District of Pennsylvania.

A federal judge has upheld two provisions from NCUA's revised field-of-membership rule but struck down two other measures related to population centers.

Congress has left Washington for a two-week recess, and credit union leaders are being urged to make their case for reg relief while legislators are back at home.

At a time when credit union leaders need to be heard as one voice, the leaders of two competing trade groups are exemplifying that spirit.

Credit unions will be watching as the Senate's regulatory relief bill heads to the House, but government spending and interest rates may delay that process by several weeks.

The bill – similar to legislation previously put forward – would delay implementation of NCUA's risk-based capital rule by an additional two years.

Experts say that despite having a few suits thrown out, the matter won't be settled until the Department of Justice provides clarity. But there are steps CUs can take to protect themselves until then.

The Senate will resume discussions on S. 2155, while the House focuses on the TAILOR Act and other measures.

The Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) is said to be "the most comprehensive regulatory relief to come onto the Senate floor in over a decade."

A federal judge has thrown out another ADA suit targeting a credit union website, but the industry is still waiting for clarity from the Department of Justice.