Defense authorization bill passes Senate

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Dec. 20, 2013 – The Senate passed the 2014 defense authorization bill late Thursday without adding in any measures affecting credit unions providing services to military servicemembers.

The measure passed with a vote of 84-15. NAFCU closely followed the bill for any changes to the Servicemembers Civil Relief Act and Military Lending Act, as credit unions serving any military servicemembers are subject to the SCRA and are potentially affected whenever Congress revisits the MLA.

The package, H.R. 3304, the vehicle for the National Defense Authorization Act, was cleared by the House last week by a vote of 350-69. This is the 52nd consecutive year Congress has passed legislation funding the armed forces.

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Defense credit union issues