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Over 50 bipartisan lawmakers back NAFCU advocacy against NDAA nominal lease provision
A bipartisan group of 51 representatives, led by Reps. Jackie Speier, D-Calif., John Garamendi, D-Calif., and Paul Cook, R-Calif., sent a letter to the chairs and ranking members of the House and Senate Armed Services Committees urging rejection of a NAFCU-opposed provision included in the Senate's fiscal year 2021 National Defense Authorization Act (NDAA) that would require the Department of Defense (DoD) to treat banks, including big ones like Wells Fargo and Bank of America, the same as credit unions when it comes to nominal leases on military bases. No such provision in included in the House-passed version of the NDAA.
In the letter, the group calls the provision “unnecessary,” citing current laws which allow for both credit unions and banks to be granted waivers for rent free leases on military bases – which are currently granted on a case-by-case basis.
“Moreover, the Department of Defense did not request the changes contained in Section 2885 [of the Senate bill],” wrote the group in urging its rejection during the upcoming NDAA conference. “In fact, the Department has previously opposed such changes."
The House and Senate are expected to move to a conference later this fall to work out differences between the two bills. Credit unions are encouraged to use NAFCU’s Grassroots Action Center to send messages directly to lawmakers and join the association’s advocacy efforts.
This provision was also included in the Senate's NDAA last year, but NAFCU successfully kept it from being included in a final version of the bill after the two chambers hashed out disparities in a conference committee.
Stay tuned to NAFCU Today for the latest status updates on the FY2021 NDAA.