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Compromised NDAA passes the House, heads to Senate
The House Tuesday passed a compromised version of the fiscal year 2022 National Defense Authorization Act (FY2022 NDAA) by a 363-70 vote. The bill – compromised on by both the House and Senate to create what leaders hope will be a final package – protects credit union leases on military bases by excluding language opposed by NAFCU that would provide banks nominal leases on military bases as well. The package now goes on to the Senate where leaders hope to get a vote on the measure this week after the body failed to pass the chamber’s own version of the bill.
In the same vote as the NDAA, the House also passed a legislative pathway that would provide a one-time exemption to raise the debt ceiling through a simple majority vote in both the House and Senate.
Of note, the NDAA compromise legislation did not include language on the Secure and Fair Enforcement (SAFE) Banking Act despite several Senators urging the Senate Armed Services Committee to incorporate the SAFE Banking Act in a letter last month and its inclusion in the previous House-passed version of the NDAA. The package also did not include NAFCU-backed language to allow remote online notarizations.
NAFCU successfully kept these bank-sought lease provisions out of the NDAA through continued advocacy efforts for credit unions and their 127 million members. NAFCU will remain vigilant and continue to engage with Congress to ensure credit unions’ priorities are top of mind during this process.
Stay tuned to NAFCU Today for updates.