Advocating for credit unions prior to Senate NDAA consideration

With the Senate expected to consider the FY27 National Defense Authorization Act (NDAA) when they return to Washington, D.C., America’s Credit Unions addressed several key amendments submitted for consideration in a letter to leadership.

Credit unions support amendments to:

• Improve access to NCUA’s Central Liquidity Facility (CLF), based on the bipartisan CLF Enhancement Act from Sens. Alex Padilla (D-CA) and Kevin Cramer (R-ND);
• Improve transparency and accountability at the Community Development Financial Institution (CDFI) Fund, as found in language from the bipartisan AFFORD Act from Sens. Mike Crapo (R-ID), Mark Warner (D-VA), and Steve Daines (R-MT);
• Expand deposit insurance coverage for noninterest-bearing transaction accounts at credit unions and banks, using updated language from the Main Street Depositor Access Act from Sens. Bill Hagerty (R-TN) and Angela Alsobrooks (D-MD); and
• Update Suspicious Activity Report and Currency Transaction Report reporting thresholds, based on the STREAMLINE Act from Sen. John Kennedy (R-LA).

The letter opposes an amendment from Sens. Roger Marshall (R-KS) and Raphael Warnock (D-GA) to launch a pilot program for commissary coupons for servicemembers

“We agree with the concept that more should be done to help servicemembers who are struggling to make ends meet. However, airdropping into the NDAA an unvetted measure that tells servicemembers where they must shop is not the solution,” the letter reads. “Enacting this program could create issues at commissaries by making changes to established payment systems.”

The House did not pass the rule for its version of the NDAA before recessing for the Independence Day holiday but could try to reconsider it when they return next week. 

Read the full letter