League joins brief to protect commercial lending

Published by: Sean Brown

February 21, 2024 | Regulatory

While your credit union tries to remain focused on members, services, and the problems already on your plate, the League looks to prevent any new issues from showing up. That is why the League recently joined the Ohio Bankers League and American Bar Association on an amicus brief asking the Ohio Supreme Court to review a decision out of the Ohio First Circuit Court. This decision threatens to alter all guaranties and suretyships in commercial lending and could unreasonably impose increased duties on lenders. The League will continue to defend credit unions’ ability to reliably use guaranties in commercial lending as they are essential to the commercial lending industry and make it possible for credit unions to lend to the businesses that support their communities. The League will provide updates as this case makes its way through the judicial process.

Contact Sean Brown for questions or assistance.

Sean Brown
Sean Brown Director, Regulatory Affairs E: sbrown@ohiocul.org
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