​WASHINGTON, D.C. – Yesterday, the U.S. Senate released the 2025 National Defense Authorization Act (NDAA) without including any provisions to amend the Federal Credit Union Act (FCUA) for share insurance coverage for deposits made at a credit union operating the Overseas Military Banking Program (OMBP) contract. The Defense Credit Union Council (DCUC) has engaged with both houses of Congress, sharing the full perspective of the credit union industry regarding the proposed FCUA amendments while highlighting the potential adverse impacts that would follow.

WASHINGTON, D.C. – Ahead of Federal Reserve Chair Jerome Powell's upcoming semiannual monetary policy report to Congress, the Defense Credit Union Council (DCUC) urges Chairman Powell to endorse the Secure Payments Act (H.R. 7531), introduced by Rep. Blaine Luetkemeyer (R-MO), and support Senator Ted Budd’s (R-NC), recent proposal for a study on the debit card interchange fee cap.

​WASHINGTON, D.C. – June 26, 2024 – Today, the Defense Credit Union Council (DCUC) sent a letter to the Honorable Cathy McMorris Rodgers, Chair, and the Honorable Frank Pallone, Ranking Member, of the House Committee on Energy and Commerce, expressing its concerns with the proposed “American Privacy Rights Act of 2024.”

​WASHINGTON–After one member of Congress suggested during a recent hearing that it may be time to require credit unions to comply with the Community Reinvestment Act (CRA), America’s Credit Unions and the Defense Credit Union Council have  responded by suggesting that doing so could reduce access to credit for “vulnerable consumers.”

WASHINGTON, D.C. – Today, the Defense Credit Union Council (DCUC) sent a letter to Senator Elizabeth Warren (D-MA) and House Representative Emanuel Cleaver (D-MO) reaffirming its opposition to the Community Reinvestment Act-like (CRA) language as proposed in Section 204 of the “American Housing and Economic Mobility Act of 2024.”

WASHINGTON, D.C. – Today, June 21, 2024, the Defense Credit Union Council (DCUC) and America’s Credit Unions (ACU) sent a joint letter to The Honorable Jack Reed, Chairman, and The Honorable Roger Wicker, Ranking Member, of the Senate Armed Services Committee. The letter urges the committee to reject any unrelated credit union amendments to the National Defense Authorization Act (NDAA) during its upcoming consideration by the full United States Senate.

WASHINGTON– The Defense Credit Union Council (DCUC) has issued a statement in support of Sen. Ted Budd's (R-NC) proposed legislation, "Secure Payments Act of 2024.”'
​
The legislation would require the Board of Governors of the Federal Reserve System to study the impacts of the Fed’s proposed rule on debit card interchange fees and routing, and for other purposes.

​Read More

Where do things stand in Washington in June of an election year? Good question. Capitol Hill is treading legislative water in preparation for fall campaigning, which means neither party wants to pass bills that could help the other party.

But regulators still have their pens out and are working to finish old business and start a new to-do list.

DCUC is already making strides in reimagining its advocacy to meet the changing and growing needs of all credit unions serving our Nation’s military and veterans. We are actively engaging with our entire membership, as well as joint trade leagues, ensuring the defense credit union movement is heard loud and clear. DCUC remains committed to ensuring the financial needs of our Nation’s military and veterans are protected and served at the local, state, and federal levels.

WASHINGTON, D.C. – The Defense Credit Union Council (DCUC) provides its support of Senator Ted Budd's (R-NC) proposed legislation, "Secure Payments Act of 2024," requiring the Board of Governors of the Federal Reserve System to study the impacts of the proposed rule on debit card interchange fees and routing, and for other purposes.