WASHINGTON—The Defense Credit Union Council has sent letters to Congress applauding bipartisan efforts to modernize outdated financial regulations—and urging lawmakers to extend similar reforms to credit unions.
In its letter to House Financial Services Chairman French Hill and the House Small Business Committee, DCUC Chief Advocacy Officer Jason Stverak shared the important role credit unions have in providing financial services to families, small businesses, and veterans across America—especially in areas where big banks often pull back.
DCUC's recommendations to Committee leaders include:
- Lift outdated lending caps – Ease restrictions that limit small business lending
- Pass the Veterans Member Business Loan Act – Unlock more capital for veteran-owned businesses at no cost to taxpayers
- Strengthen SBA & liquidity programs – Restore pandemic-era safeguards and streamline SBA lending access for underserved communities
“Whether it’s a community bank in a small town or a credit union on a military base, we’re all striving to ensure families and small businesses have a safe, affordable place to turn for financial services,” said Stverak. “Credit unions have always been partners in serving areas that big banks often ignore. We reinvest in our neighborhoods and look out for the little guy – and that’s something worth championing together."