CUNA issued an action alert Friday urging credit unions to contact their members of Congress to ensure a harmful provision for credit unions stays out of the National Defense Authorization Act (NDAA) for fiscal year 2020. The provision would expand to certain banks an exception that credit unions currently have granting rent-free access to military installations.
At issue is Section 2821 of the Senate-passed version of the NDAA; this spring, CUNA/League advocacy helped ensure no such provision appears in the House-passed version of the bill. The bill will now be considered in conference committee to work out the differences between the two versions before being signed into law.
“This provision puts the financial health of our military members in jeopardy, which is why we need credit union leaders to contact their member of Congress now and tell them to reject Section 2821 of the Senate NDAA,” said CUNA President/CEO Jim Nussle. “If it isn’t removed from the bill, banks like Wells Fargo and Bank of America will have easier access to set up shop on bases around the world. We have seen how these banks have treated their customers over the years. There is no good reason to make it easier for them to engage our servicemen and women. We have a limited window – now is the time to for action.”
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