WASHINGTON—With the 2023 National Defense Authorization Act before the House Rules Committee this week in Congress, NAFCU has sent a letter outlining its concerns.
As CUToday.info reported, the Rules Committee is considering more than 1,200 amendments that have been attached to the NDAA, some of which would affect credit unions.
NAFCU Senior Vice President of Government Affairs Greg Mesack reiterated the association’s support for several specific amendments under consideration:
- The Secure and Fair Enforcement (SAFE) Banking Act (which would remove federal prohibitions on serving cannabis-related businesses)
- The SECURE Notarization Act
- The Fair Hiring in Banking Act
- An extension of Central Liquidity Facility (CLF) enhancements first granted under the CARES Act
Opposition to Amendment
In addition, Mesack voiced strong opposition to an amendment that would include provisions from the Strengthening Cybersecurity for the Financial Sector Act, which would provide the NCUA with third-party vendor authority, as well as another amendment that would implement new, “burdensome” cybersecurity reporting requirements.
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