WASHINGTON—CUNA is expressing concern over the inclusion of any language in the National Defense Authorization Act (NDAA) for fiscal year 2020 that would allow banks rent-free access to military installations.
“There is no such language in the FY2020 NDAA, CUNA and the Defense Credit Union Council successfully fought for similar language to be removed from last year’s NDAA, it was included in an early version of the bill,” the trade group stated.
“CUNA and its members would be concerned with the inclusion of any similar language in the FY 2020 NDAA that would go beyond DOD’s current authority in regard to exemptions from the costs related to leases, utilities, and services on military bases for financial institutions or other more complex profit-centered entities,” wrote the trade association in a letter to House and Senate Armed Forces Committee leadership.
The Department of Defense has discretionary authority to waive the cost for credit union land leases, as well as administrative and logistical fees, for credit unions if certain standards are met, CUNA said.
The Senate Armed Services Committee is expected to mark up the NDAA in closed session starting May 22, explained CUNA, citing the committee’s website.