Veterans business lending, CLF enhancement bills offered as Senate NDAA amendments
Senators filed two credit union priority bills as amendments to the Senate FY26 National Defense Authorization Act (NDAA) this week. America’s Credit Unions is working with legislators to incorporate related amendments into the NDAA, while strongly opposing amendments that would harm credit unions and members.
Sen. Dan Sullivan, R-Alaska, offered his Veterans Member Business Loans Act as an amendment. It would exempt credit union loans made to veteran-owned businesses from the member business lending cap of 12;25% of assets. He introduced the bill in January with Sen. Mazie Hirono, D-Hawaii, and the bill has a bipartisan House companion.
Sens. Alex Padilla, D-Calif. And Kevin Cramer, R-N.D., offered their Central Liquidity Facility (CLF) Enhancement Act, which would provide Central Liquidity Facility enhancements and allow for quicker relief when needed. They introduced the bill in August.
America’s Credit Unions President/CEO Jim Nussle wrote to Senate leadership Thursday urging adoption of both amendments.
As the House considers its version of the NDAA, America’s Credit Unions also wrote in support of an amendment to modernize Suspicious Activity Report/Currency Transaction Report reporting thresholds in the House version of the NDAA.
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