The Senate Armed Services Committee released the text of its FY25 National Defense Authorization Act Monday and it does not contain any language related to credit unions or financial institutions. America’s Credit Unions and the Defense Credit Union Council wrote to the committee last month calling on the committee to reject any unrelated credit union amendments.
While the legislation does include language to improve financial literacy for members of the military, it does not include any amendment related to interchange. The full Senate could consider the bill this month before leaving for the August recess. America’s Credit Unions will stay engaged to oppose any harmful interchange or unrelated financial services amendments as the legislation comes to the Senate floor. The House advanced its version in June, also without any financial institution-related amendments.
