ICBA urges OCC to block sale of mutual bank’s assets to credit union

ICBA's Mutual Council and America’s Mutual Banks urged the OCC to suspend the sale of Brainerd Savings and Loan Association assets to Wings Financial Credit Union until all freedom of information requests have been considered.

“Without careful consideration by the OCC of the pending transaction, which is expected to close by May 31, this transaction would have extremely negative consequences for the future of all federally chartered mutual banking organizations, their depositors, and the communities they serve,” the group wrote.