DCUC Calls on House Financial Services Committee to Advance American Lending Fairness Act

WASHINGTON, D.C. — On Monday, the Defense Credit Union Council (DCUC) submitted comments to House Financial Services Committee Chairman French Hill and Ranking Member Maxine Waters ahead of the Committee’s hearing tomorrow examining policies to promote economic growth, opportunity, competition, and prosperity. ​

DCUC urged the Committee to advance H.R. 7866, the American Lending Fairness Act of 2026, and preserve the legislation’s application to federally insured, state-chartered credit unions. DCUC explained that the bill would clarify how state interest-rate opt-outs under the Depository Institutions Deregulation and Monetary Control Act (DIDMCA) apply to interstate lending, providing greater certainty while preserving states’ authority over institutions they charter. 
 
“That framework should preserve charter choice, regulatory parity, access to affordable credit, and the ability of credit unions to continue serving members wherever military service, employment, education, or family obligations may take them,” states Jason Stverak, DCUC Chief Advocacy Officer. 
 
“H.R. 7866 provides important clarity for credit unions serving members who may live, work, or relocate across state lines,” says Anthony Hernandez, DCUC President/CEO, Ret. U.S. Air Force Colonel. “For military families, mobility is a fact of life. Their access to a trusted credit union and responsible financial services should not change simply because a service member receives orders to relocate. Congress has an opportunity to provide a clear, consistent framework while maintaining strong consumer protections and a competitive financial system.” 
 
Stverak noted that recent state opt-out laws and related litigation have created uncertainty over which state’s interest-rate laws apply when a loan crosses state lines, and cautioned that continued uncertainty could create a state-by-state compliance patchwork for federally insured, state-chartered credit unions. 
 
“H.R. 7866 is a targeted response to a genuine statutory ambiguity,” Stverak says. “It does not eliminate consumer protections or diminish regulatory oversight. Instead, it establishes a clearer framework that allows responsible financial institutions to serve their members consistently across state lines.” 
 
DCUC also emphasized that concerns surrounding predatory lending, high-cost loans, fintech arrangements, and third-party partnerships should be addressed through targeted enforcement against deceptive or abusive practices rather than through policies that create unequal treatment among financial institution charters. 
 
DCUC specifically recommends the Committee: 

• Support H.R. 7866 and report the legislation favorably; 

• Preserve the bill’s application to federally insured, state-chartered credit unions; 

• Reject amendments that would create separate or less favorable interstate lending treatment for credit unions; and 

• Continue targeted enforcement against predatory lending and sham partnerships without undermining responsible credit unions or the dual-chartering system. ​