DCUC Sends Letter to Congress Outlining Priorities for FY2025 NDAA

On August 6, 2024, the Defense Credit Union Council (DCUC) sent a letter to Senators Jack Reed (D-RI) and Roger Wicker (R-MS) and House of Representatives Mike Rogers and Adam Smith urging a clean markup of the 2025 National Defense Authorization Act (NDAA) once Congress reconvenes next month.

In its letter, DCUC called on Congress members to protect the credit union industry’s tax exemption status by rejecting any attempt to insert language into the proposed NDAA that would open up the Federal Credit Union Act (FCUA) to amend the regulations to allow non-member deposits. DCUC reaffirmed its opposition to unnecessary provisions that divert attention from maintaining strong military readiness and cautioned that implementing these changes could disrupt the balanced financial services currently provided on military bases to servicemembers by the Department of Defense (DoD).

DCUC also voiced its opposition to the Durbin-Marshal Credit Card Competition Act (CCCA) and any CCCA-like amendments or misleading study proposals that could pose a risk to consumer protection.

“Our nation’s defense credit unions understand that now more than ever, we need to put our nation’s servicemembers first and reject the hollow call for new laws that would make basic financial services even more expensive for working-class Americans,” wrote Jason Stverak, DCUC Chief Advocacy Officer.

Read the letter here.