WASHINGTON, DC (May 14, 2026) |
The Defense Credit Union Council (DCUC) submitted official comments to the House Financial Services Committee (HFSC) outlining support for several measures ahead of the Committee’s markup today, focused on fraud prevention, artificial intelligence, and financial regulatory modernization.
DCUC called for the Committee’s shared support on strengthening fraud prevention and recovery tools, encouraging responsible adoption of emerging technologies, and ensuring right-sized regulation for credit unions serving communities nationwide.
Among these measures, DCUC proposed strengthening protections against AI-enabled fraud, improving elder fraud investigations and scam recovery efforts, modernizing supervisory technology, and expanding community financial institutions’ access to responsible AI innovation tools.
“Of all the measures scheduled for markup, this legislation most directly reflects the practical needs we have highlighted in recent hearings and letters: better fraud-detection tools, community-scaled access to emerging technologies, safe-harbor concepts for responsible fraud prevention, shared or consortium approaches for smaller institutions, and stronger public-private information sharing,” said Jason Stverak, DCUC Chief Advocacy Officer.
DCUC also urged lawmakers to ensure that future regulatory frameworks preserve strong consumer protections while recognizing the operational realities facing smaller and mission-driven financial institutions.
“These proposals recognize that innovation and consumer protection are not mutually exclusive,” says DCUC President/CEO Anthony Hernandez, Ret. U.S. Air Force Colonel. “Defense credit unions need the ability to responsibly adopt emerging technologies while continuing to safeguard servicemembers, veterans, and military families from increasingly sophisticated fraud threats.”
DCUC further encouraged Congress and regulators to incorporate military- and veteran-specific fraud trends into future studies, reporting requirements, and interagency coordination efforts.