WASHINGTON—NAFCU, CUNA and the heads of the Defense Credit Union Council (DCUC) are again calling on Congress to continue to prevent banks from operating rent-free on military bases, this times in a letter to the House Armed Services Committee ahead of their subcommittee markups of the fiscal year 2022 National Defense Authorization Act (NDAA).
"It is outrageous that large banks such as Wells Fargo and Bank of America, who regularly earn billions in profits, would expect DoD to treat them the same as credit unions when it comes to leases," wrote the group. "We thank the committee for recognizing the differences between banks and credit unions.
"It is our hope the House Armed Services Committee will reject the inclusion of this provision in the NDAA should it surface once again this year," concluded the group.