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The Independent Community Bankers of America on Wednesday filed an opposition brief in its lawsuit against the NCUA over the agency's member business lending rule.

In September, NAFCU and CUNA announced that they would join forces in their commitment to protect credit unions' interests in response to the suit. The trade associations plan to use Williams & Connolly LLP to challenge a lawsuit.

The NCUA's final MBL rule eliminated credit unions' personal guarantee requirement and, effective Jan. 1, 2017, will eliminate the waiver process. NAFCU has praised the rule for easing the regulatory burden on credit unions and allowing them the independence to safely and soundly address the needs of their small-business members.