House moves forward on NDAA

We saw the House Rules Committee take action to move the Fiscal Year 2025 National Defense Authorization Act (NDAA) forward this week. With more than 1,300 proposed amendments, the committee adopted a Rule to proceed that included more than 250 of those proposed amendments. A proposed amendment that would have amended the Federal Credit Union Act to ensure federal share insurance for the Overseas Military Banking Program (OMBP), was not included and won’t be considered by the full House.

I addressed the differing viewpoints within our industry on this issue last week. You can rest assured that we are engaging with Congress on the NDAA, while keeping a strong focus on all challenges our industry faces – including regulatory overreach and attacks on the credit union tax status – to elevate our industry’s needs with one unified voice.

DoD OMBP overview

America’s Credit Unions hosted a webinar Thursday to provide information from the Department of Defense (DoD) about its Overseas Military Banking Program (OMBP). In attendance were members of America’s Credit Unions and representatives from 22 Leagues from across the county. Leadership from the Defense Credit Union Council were also special guests of America’s Credit Unions. Following the presentation, attendees had opportunities to ask questions.


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