CHICAGO–Members of the Defense Credit Union Council meeting here were told to keep the pressure on Congress to reject language that would give banks equal access to military bases as credit unions. The credit unions are meeting here as part of the DCUC’s 56th Annual Conference.
As CUToday.info has reported, the 2020 National Defense Authorization Act is currently in conference committee where the language differences between House and Senate versions of the bill must be hammered out.
“While banks argue for ‘parity’ on this issue, the fact remains that banks already have the ability to obtain the same types of waiver under 10 USC §2667,” the DCUC said. “However, banks have not exercised this authority.
“We need to pay attention to the DoD and Capitol Hill to know what is going on with military families and we need to take a seat at the table,” said Jack Fallis, president and CEO of Global Credit Union and Chair of the DCUC Advocacy committee.
‘Make it Clear’
The DCUC is urging members to “make clear to lawmakers through letter writing campaigns, phone calls and support from credit union leagues that credit unions and banks are not the same.”
Other advocacy topics discussed during the meeting included the H.R. 2305 Veteran Business Lending Exemption, H.R. 3642 Improving Credit Reporting for All Consumers Act, and financial diversity and inclusion.