In a stunning about-face, the CFPB quietly dropped a $95-million enforcement order against Navy Federal Credit Union this July – a case it had loudly announced just months earlier.
THE 'tude
Amid the parades, barbecues, and fireworks of Independence Day, it’s easy to revel in the festivities. But the Fourth of July is more than a day off or a sky lit with color – it’s a time to reflect on the ideals of liberty and those who fought to secure it.
When U.S. Air Force veteran Ron Hernandez, who spent his post-service life helping more than 3,400 fellow veterans find housing, was diagnosed with stage four pancreatic cancer, he faced an unimaginable reality: losing the home he and his wife had lived in for decades.
As Congress turns its attention to the National Defense Authorization Act (NDAA), the most important annual bill for America’s national security, there’s one message that must ring clear: stay laser-focused on the mission. Because no one knows that mission—or has fought longer and harder to protect it—than the Defense Credit Union Council, DCUC, and America’s defense credit unions.
As lawmakers gather this week to examine the impact of minor league baseball on small businesses and local communities, a familiar—but flawed—narrative continues to surface: the idea that credit unions have somehow strayed from their mission by engaging in stadium sponsorships, sports partnerships, and marketing campaigns that proudly place their names in the public eye.
The recent reversal of the Consumer Financial Protection Bureau’s Section 1033 rule by the Trump Administration is a significant and welcome step forward for credit unions—especially those serving America’s military.
Who is DCUC and what do we do? Does the term “defense credit union” confuse whether your credit union can or should be a DCUC member?
When the House Ways and Means Committee released its long-awaited tax package this week, there was a notable—and welcome—omission. Not one word about credit unions. Not a single reference to our longstanding federal tax exemption. No new Unrelated Business Income Tax (UBIT) provisions. No veiled threats to 501(c)(14) status. No attacks on NCUA oversight or regulatory authority. On its face, the 389-page bill offers no direct harm to the credit union model.
This Mother’s Day, we pause not only to honor the extraordinary women who nurture our families, communities, and futures—but also to recognize the strength and sacrifice of mothers who wear our nation’s uniform.
As America celebrates National Small Business Week 2025 (May 4–10), we honor the ingenuity and hard work of entrepreneurs who drive our economy. Among them are thousands of military veterans who have traded uniforms for business plans.