WASHINGTON, D.C. –The House has passed H.R. 3838 – Streamlining Procurement for Effective Execution and Delivery and the National Defense Authorization Act (NDAA) for Fiscal Year 2026 without the addition of the Credit Card Competition Act (CCCA) amendments, which is strongly opposed by the financial services industry, including credit unions.
The vote comes after some had speculated the legislation could be pushed into October while Congress works on finding a way to fund the government past Sept. 30.
As the CU Daily has been reporting, credit unions, including the Defense CU Council and America’s Credit Unions, have been consistently raising concerns that the CCCA is being promoted as a “pro-competition measure” but that it would instead force financial institutions to route transactions through “potentially less secure, untested, or even foreign-controlled networks,” noted DCUC.
Credit unions have also argued that the potential loss of interchange revenue from the CCUA would undermine consumer protections, increase fraud risks, and pose “significant threats to both financial stability and national security.”
No ’Harmful Amendments’
“On behalf of credit unions and the military communities we serve, we thank the House for advancing the NDAA without harmful amendments,” Anthony Hernandez, DCUC president/CEO, said in a statement. “The CCCA threatens to weaken financial protections for those who serve our country while enriching large retailers unlikely to pass savings on to consumers. We applaud Congressional leaders for rejecting this shortsighted measure and for protecting the financial well-being of America’s servicemembers, veterans, and their families.”
Working With the Senate
The Defense Council said it is also committeed to working with Senate leaders to ensure the CCCA and similar proposals do not advance in future legislation.
