Keep interchange and other financial services provisions out of NDAA
Work on the FY2026 National Defense Authorization Act (NDAA) is underway, bringing concern that some lawmakers may attempt to add Big Box Bailout bill language and other financial services amendments. In a letter sent Tuesday, America’s Credit Unions President/CEO Jim Nussle encouraged Senate Armed Services Committee leaders to report a “clean” NDAA that “does not add unrelated financial services or banking amendments, such as interchange, interest rate caps, or changes in policy relating to military banking or financial institutions on military bases.”
Nussle urged them to reject amendments that are “unnecessary policy provisions that distract from the focus on more urgent national security concerns and that could upset the balance the Department of Defense has found with on-base financial services for its servicemembers.”
Nearly 200 defense credit unions serve more than 40 million service members and families and are deeply rooted in the communities surrounding military installations. 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.
A recent America’s Credit Unions Blog post details why credit unions remain indispensable to military members and families around the globe.
Advertisement
