Weekly Watch: June 12, 2026

Your weekly advocacy update: Stay informed, take action, and champion the voice of America’s defense credit unions!

​It's been a productive week for our movement as we continue working to protect the credit union difference and the ability to serve members effectively.

​This week, we submitted comments to both FinCEN and the NCUA supporting a risk-based approach to AML/CFT modernization, while urging regulators to preserve flexibility, avoid unnecessary compliance burdens, and ensure expectations remain proportional to institutional size and risk. We also weighed in on FinCEN and OFAC's proposed stablecoin rule under the GENIUS Act, advocating for a workable framework that allows credit unions of all sizes to participate in emerging payment systems.

We were also encouraged by several positive developments, including NCUA actions that provide greater clarity around interchange fees and modernize governance requirements by removing barriers to volunteer board service. These are meaningful steps that help credit unions remain strong, competitive, and responsive to member needs.

On the legislative front, we were grateful to see that the House-passed Reconciliation 2.0 package did not include provisions affecting credit unions, financial services, or the federal credit union tax status. While positive, we know the conversation is far from over. As Congress continues its work on tax, appropriations, and financial services issues, we'll remain engaged to ensure policymakers understand the vital role credit unions play in communities across the country.

Earlier this week, the White House sent the nomination of Brian Johnson to serve as Director of the Consumer Financial Protection Bureau (CFPB) to the United States Senate. We welcome the nomination due to Johnson's extensive background in consumer financial policy, including his previous service at the CFPB and leadership experience on the House Financial Services Committee. As the nomination process moves forward, we look forward to engaging with CFPB leadership and advocating for a balanced regulatory approach that protects consumers, promotes innovation, and avoids unnecessary burdens on credit unions and the members they serve.

Looking ahead, we'll be providing testimony on Monday before the Massachusetts Special Legislative Commission studying the future of payments and credit card transactions. This is another important opportunity to share the real-world impact policy decisions can have on credit unions, their members, and the communities they serve. We encourage credit unions to listen in during the public meeting as it's livestreamed on the official webpage.

We're also continuing to engage lawmakers as work progresses on this year's National Defense Authorization Act (NDAA), advocating for priorities that support military financial readiness, operational flexibility, and continued access to affordable financial services for servicemembers, veterans, and their families.

Thank you for your continued support, engagement, and advocacy. Every conversation, every comment letter, and every opportunity to educate policymakers helps strengthen our collective voice and advance the mission we all share.

Advocacy Discussions

At DCUC Annual Conference, Hernandez And Simpson Will Unite For Future-Focused Discussion, featured by CUToday

 
CU Rep Set to Testify Before Mass. Special Legislative Commission on Payments, Card Transactions, featured by The CU Daily

 
Why credit unions must stay vigilant on state interchange legislation, featured by CUInsight

 
House Passes ‘Reconciliation 2.0’; No Financial Services Provisions Included, featured by CUToday

 
Roundtable: Credit Unions Face Shifting DC Advocacy Landscape, featured by The CU Connection