WASHINGTON, D.C (August 5, 2025) |
The Defense Credit Union Council (DCUC) releases the following statement in support of the U.S. House introduction of the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act:
"DCUC applauds both Congressman Nunn and Congressman Himes for their leadership on the bipartisan TRAPS Act. As the voice of defense credit unions serving military members, veterans, and their families, we are proud to support this important legislation," said Anthony Hernandez, DCUC President & CEO.
"Payment scams disproportionately affect military communities—especially senior veterans and active-duty families navigating frequent relocations, deployments, and service-to-civilian transitions. Credit unions are often the first to identify and respond to these threats. The TRAPS Act will strengthen our ability to act quickly and collaboratively by creating a unified task force of regulators, law enforcement, and industry experts.
By empowering institutions to detect, pause, and report suspicious transactions, this legislation provides the critical infrastructure needed to protect consumers before damage is done. We look forward to working with Congress to advance this commonsense, consumer-first bill that helps defend those who have served our country."
See the official announcement here.