WASHINGTON—The Defense Credit Union Council sent several letters to Capitol Hill Monday in advance of hearings and other matters of interest to credit unions.
DCUC sent letters to:
- The House Armed Services Committee advocating for a clean and focused National Defense Authorization Act that supports servicemembers and avoids unrelated or damaging policy amendments.
- The U.S. Senate Judiciary Committee, ahead of its hearing “Beyond the Smash and Grab: Criminal Networks and Organized Theft,” DCUC highlighted the critical role credit unions play in fraud prevention and expressed support for legislative tools like the TRAPS Act, which empower institutions to protect members before damage is done.
- The House Financial Services Committee addressing the significant compliance burdens imposed on credit unions by the Dodd-Frank Wall Street Reform and Consumer Protection Act, and called for a modernized regulatory approach.
- The House Judiciary Subcommittee on the Administrative State, Regulatory Reform, and Antitrust outlining key bankruptcy-related concerns for credit unions, including reaffirmation agreements, secured debt treatment, and the lack of credit union-specific protections.