With Congress out for October recess, discussions are getting underway this month to craft a final version of the FY2025 National Defense Authorization Act (NDAA) that Congress will vote on when it returns for a post-election lame-duck session. America’s Credit Unions joined with a number of state leagues to write lawmakers yesterday on the NDAA discussions, urging them to reject any amendments that stand to place new burdens and hardships on our nation’s credit unions.

In a letter to House and Senate Armed Services Committee leaders Wednesday, the credit union organizations outlined potential concerning amendments they oppose. 

These include:

• Expanding interchange price caps, including any efforts to attach the Credit Card Competition Act to the FY25 NDAA;
• Amendments that would add military banking matters, which could upset the current balance the Department of Defense has found with on-base financial services for its members. 
• Any amendments related to credit union-opposed legislation that would make changes to the Electronic Funds Transfer Act (EFTA) to expand credit union liability for payments related fraud.

The organizations noted that none of these proposals were included in the House-passed or Senate committee-approved versions of the bill that are the basis for discussions and thus should not be added to the final version of the NDAA.