DCUC Opposes Legislation in California, Colorado, Texas, and Illinois That Threatens Military Financial Security

​WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) has sent several letters of opposition to legislative proposals in California, Colorado, Texas, and Illinois that threaten to undermine the financial well-being of military members, veterans, and the credit unions that serve these populations. DCUC letters have been confirmed to be circulating since their release among both states’ congressional offices.
 
If passed, the proposed bills would disrupt a secure and efficient payment system, ultimately making it harder for military families to access affordable, reliable financial services.

“This bill would hand windfall profits to large retail merchants without delivering any promised price relief to consumers. Most importantly, it would harm the very people we owe our support – the soldiers, sailors, airmen, Marines, Coast Guardsmen, veterans, and Gold Star families who sacrifice for our nation. These Americans deserve financial policies that recognize their unique needs and safeguard their stability, not policies that make their lives more difficult.”

DCUC’s letter to the Honorable Julie Gonzales, Chair of the Colorado Senate Committee on Judiciary, echoed these concerns, urging the committee to reject HB 1282 in defense of military families and the credit unions who serve these communities.

“These bills would do far more harm than good,” said Anthony Hernandez, President/CEO of DCUC. “They jeopardize credit access and financial stability for military families—all while giving large retailers a profit boost with no guaranteed benefit to consumers. We must ensure legislation supports, not undermines, those who serve our country.”

DCUC’s letters voice that while these bills are presented as pro-consumer, they would instead create significant disruptions in credit access, weaken consumer protections, and jeopardize the financial institutions committed to serving those who serve.

"Protecting the financial security of military families has long been a bipartisan priority, and we urge these state legislators to ensure that our nation’s heroes and their loved ones can access safe, affordable credit and banking services now and in the future,” says Hernandez.
 
For more information, please contact Jason Stverak at [email protected] and visit dcuc.org/advocacy.