WASHINGTON, DC (April 20, 2026) |
The Defense Credit Union Council (DCUC) wrote to House Financial Services Committee (HFSC) Chairman French Hill and Ranking Member Maxine Waters ahead of the Committee’s April 21, 2026 markup, outlining credit union priorities on four pending bills: H.R. 425, H.R. 941, H.R. 8286, and H.R. 8290.
DCUC urged favorable advancement of H.R. 941, citing needed relief from the Section 1071 small-business lending data rule, which it says disproportionately burdens smaller, mission focused institutions. DCUC recommended targeted refinements, including coordination with the National Credit Union Administration (NCUA) and periodic review of key thresholds.
DCUC took a neutral, amend-before-support position on H.R. 425, raising concerns about mandatory deletion of beneficial ownership data and potential impacts on fraud prevention. It expressed conditional support for H.R. 8286 if clarified to avoid unintended impacts on credit union-affiliated services, and a neutral stance on H.R. 8290, noting primarily indirect, macroeconomic effects on credit unions.
Beyond the markup, DCUC called attention to the need for a dedicated, near-term Committee markup focused specifically on credit union legislation, including measures to expand capital access for veteran-owned businesses and strengthen liquidity tools like the Central Liquidity Facility (CLF).
“DCUC respectfully requests that the Committee hold a separate credit-union-focused markup on a short timeline. The purpose of that markup should be to consider targeted, bipartisan measures that directly expand responsible credit access, improve system resilience, and remove statutory barriers that uniquely constrain credit unions. The scope should include, at minimum, the Veterans Member Business Loan Act (H.R. 507 / S. 110), which DCUC and the American Legion jointly urged congressional leadership to advance in January 2026; a CLF modernization measure consistent with S. 2545 / S. 3575; the Expanding Access to Lending Options Act (H.R. 4167 / S. 3616); and, if the Committee prefers a packaged approach, any field-of-membership modernization bill or discussion draft the Committee is prepared to notice. If desired, already House-passed board modernization language could also be assembled into a broader credit-union title, since H.R. 975 previously passed the House and was later incorporated into House housing legislation.”
“Credit unions continue to face disproportionate regulatory burdens without corresponding policy attention,” says Jason Stverak, DCUC Chief Advocacy Officer. “Advancing targeted relief and prioritizing credit union legislation will strengthen financial readiness and expand access to responsible credit.”