Newsroom
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.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.