NDAA Update - "Skinny" NDAA
Thursday, October 31, 2019
The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.
Photo ByDominique A. Pineiro
Senate Armed Services Chairman Inhofe (R-OK) has released a “skinny” version of the National Defense Authorization Act.
The good news: The proposed “skinny” version does not contain the banker proposal which DCUC has fought since it was released in early April.
However, the fight is not over as there is no indication the House Armed Services Committee will accept the “skinny” version. There are larger issues that remain, such as Southern Border Issues, a new Space Force, etc. Sen Jack Reed (D-R.I.) has also said he is more focused on the more comprehensive issues that remain to be negotiated.
Plus, there is always the threat of a Presidential Veto which means there will be negotiations with the White House prior to a final vote on the “skinny” NDAA. This is where the next battle will occur, and DCUC is already engaged.
However, we need your help. Now is the time to contact your Congressional Delegation one more time and let your voice be heard.
DCUC was proud to unite CUNA and NAFCU in signing a joint rebuttal to a banker commentary in the Military Times, which is widely read by members of the HASC and SASC. The rebuttal is loaded with great talking points for use in your conversations with your Congressional Delegation.
Bottomline: “Defense credit unions do not fear competition from banks, especially on base, as there can be an important role for both institutions to play. But credit unions simply put our members first—ahead of profit. If banks want to be treated like credit unions, they need to start acting like them. Equal treatment needs to focus on service, structure and ethos, not increasing the bank’s profit sustainability. Our servicemembers deserve more!”
We will keep you informed as the NDAA moves towards final resolution.
To find out more about this issue, check out our NDAA Advocacy Page.