WASHINGTON–The Defense Credit Union Council (DCUC) has launched targeted ads in the Capitol Hill publication Punchbowl News that are designed to alert members of Congress and Hill staffers to that DCUC says is “harmful credit card legislation, including the Durbin-Marshall “Credit Card Competition Act” (CCCA), as well as a proposed 10% interest rate cap on cards.
In both cases, attempts are being made to attach the legislation or language from the legislation to the must-pass Fiscal Year 2026 National Defense Authorization Act (NDAA).
“Our nation’s military families deserve policies that strengthen their financial security—not jeopardize it,” DCUC President/CEO Anthony Hernandez, who is retired from the Air Force, said in a statement. “The proposals under consideration would hinder the ability of credit unions to serve their military members and communities with the safe, dependable, and mission-driven credit solutions.”
‘Working Tirelessly’
Added Jason Stverak, DCU’s chief advocacy officer, in a statement, “DCUC is working tirelessly to ensure these harmful amendments don’t make their way into the NDAA. We’re making our voice heard now just as we’ve done in previous years to urge Congress to reject these proposals and protect those who serve our country.”
“DCUC Issues Support of H.R. 4551.”
Other Actions
Separately, the DCUC has also:
- Expressed its support for H.R. 4551, the Employee Paycheck and Small Business Protection Act, in a letter to House Financial Services Committee Ranking Member Maxine Waters. The legislation addresses long-standing gaps in deposit insurance coverage for business accounts and ensures credit union parity during financial emergencies. “We commend Rep. (Maxine) Waters (D-CA) and committee members for their leadership in introducing this legislation,” said Stverak. “H.R. 4551 offers timely, prudent reforms to modernize deposit insurance, protect small businesses and their employees, and strengthen confidence in community-based financial institutions.”
- Sent a letter of support to Rep. Waters commending her leadership in introducing the American Access to Banking Act (H.R. 4544).“This is a pivotal moment for the future of credit unions,” said Anthony Hernandez, DCUC president/CEO. “We commend Congresswoman Waters for her leadership and vision. The American Access to Banking Act recognizes the essential role credit unions play in promoting financial inclusion, particularly for those who serve in uniform and the communities that support them. We’re proud to support this bill and stand ready to help move it forward.”
