The Defense Credit Union Council (DCUC) has sent a letter to Senator Ted Cruz, Senator Katie Britt, and Representative Andy Barr expressing support for the goals of the Community Bank Relief Act, while respectfully urging clarification to ensure credit unions are explicitly included in the bill’s statutory language.
In the letter, DCUC Chief Advocacy Officer Jason Stverak shared that DCUC strongly supports efforts to modernize federal law to reflect current economic conditions, and that “adjusting statutory thresholds tied to debit interchange regulations to account for inflation is a prudent and necessary step toward restoring regulatory balance in the financial services marketplace.”
DCUC voiced that if Congress intends to provide meaningful and durable relief to smaller financial institutions, it respectfully requests the explicit inclusion of credit unions within the statutory language. “[This] will ensure parity, prevent ambiguity, and reinforce competitive fairness across the financial services sector,” wrote Stverak.
“Credit unions operate under the same regulatory framework and face the same economic pressures as community banks,” says Anthony Hernandez, DCUC President/CEO. “Ensuring parity in this legislation is not just a technical correction; it is essential to protecting financial access, stability, and fairness for all communities served nationwide.”
DCUC expressed its willingness to work collaboratively with lawmakers to strengthen the legislation and ensure it reflects the full representation of community-based financial institutions serving American consumers.