NAFCU remaining engaged as Congress schedules work on NDAA
NAFCU remains engaged with the Senate and House Armed Services Committees as they begin their annual work on the National Defense Authorization Act (NDAA) to ensure that the interests of defense credit unions are represented. The Senate Armed Services Committee has announced that it will begin mark-ups of the NDAA for fiscal year 2020 next month. NAFCU last year led efforts during consideration of the FY 2019 NDAA to protect credit union nominal leases on military installations and stop an effort to allow all banks to operate rent-free on military bases.
Earlier this week, NAFCU Vice President of Legislative Affairs Brad Thaler wrote to the leadership of the Senate Armed Services and House Armed Services Committees to note the association's ongoing concerns about efforts by banks to gain access to rent-free leases on military installations and to urge them to not include such language in the FY2020 NDAA.
Thaler thanked the committees for not including the language in the final bill last year and said that NAFCU "remain[s] concerned that any language proving 'free rent' for banks on military installations would go well beyond the authority provided to DoD regarding credit union leases, and would disadvantage credit unions."
The House Armed Services Committee has announced that it will begin markup of its version of the Fiscal Year 2020 NDAA in early June.
NAFCU will continue to monitor this issue and the committees' work on the NDAA for any impact on credit unions.
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