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Tuesday is the deadline for credit unions to comply with July 2015 amendments to the Military Lending Act related to credit cards, despite calls from NAFCU and lawmakers to the Department of Defense (DoD) to exempt – or at least delay – credit unions from the changes.

The changes affect many issues including bona fide fee exemptions, late- and returned-payment fees and credit card agreements.

In March, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt wrote to the DoD reiterating the need for an extension because of "many unique challenges," including lack of clarity, presented by the rule.

The department itself has acknowledged the complexity of its rule, but refused to delay the credit card compliance implementation date in a response sent to NAFCU last month.

Following the DoD's extension denial, Rep. Paul Cook, R-Calif, along with several fellow representatives, sent a letter to the department asking it to fully exempt credit unions from the MLA amendments. The lawmakers argued that the changes have hindered credit unions' ability to offer high-quality products relied on by the military community.

NAFCU will continue to push for more clarity in the form of guidance or revisions to the regulatory text for the industry even after the deadline. The association has a host of MLA resources available here.