WASHINGTON— The Defense Credit Union Council is backing House legislation to ease Section 1071 compliance burdens on smaller institutions, but is also pressing lawmakers to move quickly on a separate, credit union-focused markup that would take up long-sought priorities including Central Liquidity Facility modernization, expanded veteran business lending authority and field-of-membership reform.
Ahead of the committee’s markup Tuesday of H.R. 425, H.R. 941, H.R. 8286, and H.R. 8290, DCUC provided bill-by-bill recommendations:
- Supported H.R. 941 with refinements to ease Section 1071 burdens on smaller institutions
- Took a neutral, amend-before-support position on H.R. 425 due to concerns over beneficial ownership data deletion
- Expressed conditional support for H.R. 8286 with safeguards for credit union-affiliated services
- Remained neutral on H.R. 8290 due to limited direct credit union impact
DCUC also called for a dedicated credit union-focused markup on a short timeline addressing CLF modernization, veteran lending access, and field-of-membership reform.
"The purpose of that markup should be to consider targeted, bipartisan measures that directly expand responsible credit access, improve system resilience, and remove statutory barriers that uniquely constrain credit unions," wrote DCUC Chief Advocacy Officer Jason Stverak. "The scope should include, at minimum, the Veterans Member Business Loan Act (H.R. 507 / S. 110), which DCUC and the American Legion jointly urged congressional leadership to advance in January 2026; a CLF modernization measure consistent with S. 2545 / S. 3575; the Expanding Access to Lending Options Act (H.R. 4167 / S. 3616); and, if the Committee prefers a packaged approach, any field-of-membership modernization bill or discussion draft the Committee is prepared to notice. If desired, already House-passed board modernization language could also be assembled into a broader credit-union title, since H.R. 975 previously passed the House and was later incorporated into House housing legislation.”
Read the full letter here.