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NAFCU updates CUs on NDAA advocacy efforts
Under an amendment proposed last week during the House Armed Services Committee's consideration of the House version of the NDAA, the Department of Defense (DoD) would be required to treat all banks the same way as they treat credit unions when it comes to lease policy.
Ahead of the scheduled markup, NAFCU's advocacy team was active on Capitol Hill urging committee members to oppose such an amendment if offered. The legislation now moves to the full House for consideration.
Credit unions have nominal lease space in federal buildings and on military bases from a NAFCU-sought provision added to the Federal Credit Union Act in 2006. Last year, NAFCU efforts led House and Senate conferees of the FY2019 NDAA to drop the provision regarding bank leases on military installations.
In his email, Thaler clarified that "DoD has not made any indication that they would use their discretion to reconsider their current position regarding credit union nominal leases, but we also do not want to subject the ability of defense credit unions to serve their members to the political winds surrounding big bank consumer abuses."
The association will continue to monitor this version of the bill, as well as the Senate version of the FY2020 NDAA which does include a provision that would require the DoD to treat banks and credit unions equally when it comes to land leases.
Those attending NAAFCU's 52nd Annual Conference & Solutions Expo this week in New Orleans are encouraged to attend the Defense Credit Union Summit – hosted in partnership with the Defense Credit Union Council – for more on the NDAA and defense credit union issues.