Credit union trade groups are pushing House and Senate leaders to pass a “clean” defense reauthorization bill that does not include two provisions they find particularly odious.
In a letter to congressional leaders, NAFCU and the Defense Credit Union Council (DCUC) asked the leaders to ensure that any defense bill does not contain a provision dealing with credit card interchange fees. They also asked that lawmakers make sure the bill does not include a provision giving the NCUA oversight powers over third-party vendors.
The House has passed its version of the annual defense bill, which contains the third-party vendor provision. The Senate has not yet considered its annual defense bill, however Sens. Richard Durbin, D-Ill., and Roger Marshall, R-Kan., have proposed an amendment adding the interchange language.
Since the defense authorization is considered must-pass legislation, members of Congress are trying to add their pet proposals to the bill.
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