Advocating for ‘clean’ NDAA without interchange, financial services amendments
Credit union efforts remain underway to encourage a “clean” FY2026 National Defense Authorization Act, as America’s Credit Unions wrote Monday to House Armed Services Committee leaders. Monday’s letter aligns with an earlier version sent last week to Senate Armed Services Committee leaders.
“While there have been efforts to try to attach amendments dealing with interchange and interest rate caps in previous years, we do not believe any of these amendments should be added to the NDAA,” wrote America’s Credit Unions President/CEO Jim Nussle. “Additionally, while various parties have raised issues relating to changing policies regarding military banking and financial institutions on military bases, we believe there are no issues ripe for consideration as part of the NDAA and urge you to reject any amendments that would add these matters to the bill during Committee markup.”
Such amendments would be unnecessary provisions distracting from more urgent national security concerns and could upset the balance the Department of Defense (DoD) has found for on-base financial services for servicemembers, Nussle added.
There are nearly 200 defense credit unions that serve more than 40 million service members and families, and credit unions on military bases continue to earn the nominal lease structure by providing robust financial services and education, subject to both DoD and NCUA oversight.
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