WASHINGTON–The lawsuit filed by two former NCUA board members against the Trump administration over their firing has the attention of America’s Credit Unions, but at this point it said it has only reviewed the suit and is not yet ready to weigh in with a position.
During a call with the media that took place shortly after the suit was filed, ACU President and CEO Jim Nussle said the trade association is reading through the lawsuit and has also been in contact with its outside firms regarding what the suit means and potential courses of action.
“We continue to maintain that we believe the best course of action is an independent regulator with a full contingency of nominated and appointed board members, with the full contingency being three, of course,” said Nussle.
Carrie Hunt, chief advocacy officer with ACU, said the trade group’s position on NCUA as an independent regulator with a three-member board has been “long-standing,” as has its belief the non-partisan board structure provides for “stability for decisions that are made from administration to administration.”
At present, only Republican Kyle Hauptman remains as the lone member of the board.
‘Support the Process’
“There have been many times where we haven’t agreed with the decisions that boards have made,” added Hunt. “However, we do support the process and it is in in the Federal Credit Union Act that those individuals should be of different parties.”
Hunt said America’s Credit Unions is not considering suing the Trump administration itself over the board firings.
As the CU Daily reports here https://thecudaily.com/21-state-attorneys-general-file-brief-supporting-fired-ftc-commissioner/, fired FTC commissioners have also filed a suit of their own against the Trump administration.
