NAFCU shares support of NDAA, urges House to pass legislation
As the House prepares to consider the fiscal year 2021 National Defense Authorization Act (NDAA), NAFCU Vice President of Legislative Affairs Brad Thaler urged the chamber to support and pass the important piece of legislation.
Of note, the bill includes NAFCU-sought language to make Bank Secrecy Act (BSA)/anti-money laundering (AML) reforms and does not include changes to on-base leases sought by the banking industry.
In the letter, sent to House leadership, Thaler thanked the conference committee for recognizing the important role that defense credit unions play in providing servicemembers with “traditional financial services and protecting our troops from predatory lenders.”
Thaler noted that while the Department of Defense (DoD) has chosen to afford space on military spaces at a nominal rate to credit unions, the department is not required to do so.
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