WASHINGTON—The Defense Credit Union Council and America’s Credit Unions joined with several other industry groups, including the American Bankers Association and the Independent Community Bankers of America, in a joint letter to Senate and House leaders opposing inclusion of the Marshall-Durbin interchange amendment in the FY2026 National Defense Authorization Act (NDAA).
In the letter the groups also oppose inclusion of the related “commissary interchange” study amendment.
"Collectively, our organizations represent financial institutions of all sizes in communities across the country, including those dedicated to serving military service members and their families. We are deeply concerned that these controversial provisions, which are unrelated to national defense, would harm consumers, disadvantage small financial institutions, and even undermine the financial well-being of military families. Simply put, the Marshall-Durbin interchange proposals do not belong in the NDAA, and we respectfully urge that they be excluded from any final defense authorization bill,” the letter reads.
The groups emphasized the NDAA is a “must-pass” bill vital to the nation’s security and to supporting U.S. troops.
“It should remain focused on defense priorities, not serve as a vehicle for unrelated financial regulations. Attaching the Marshall-Durbin interchange amendment (or any similar interchange fee mandates) to the NDAA is an inappropriate backdoor attempt to push through a divisive policy that has not been properly considered by Congress. This proposal has never received a hearing or committee vote and is widely regarded as a ‘poison pill’ amendment by industry experts. Shoehorning such a contentious banking mandate into a defense authorization bill is a dangerous legislative shortcut that could distract from genuine national security issues,” the letter states.
Anthony Hernandez, Defense Credit Union Council president and CEO, said DCUC is “proud to have worked with the leading associations across the financial services sector to stand united on this critical issue. We value the willingness and collaboration from each of these associations to join us in demonstrating a united front. This effort is about standing united on what matters most: protecting the financial security of Americans, especially those who selflessly protect our nation. They safeguard our freedoms; we safeguard their financial well-being.
“DCUC will remain steadfast in its commitment to bringing forward a strong, unified advocacy voice on behalf of all credit unions serving these important communities—while continuing to maximize every opportunity to demonstrate the positive impact the financial services industry delivers to America’s communities,” concluded Hernandez, adding that DCUC has been leading the fight against adding additional amendments to the NDAA.
ACU noted the letter “echoes” a letter America’s Credit Unions sent to the Senate earlier this month, urging Congress to reject any controversial interchange amendments when moving the NDAA.