WASHINGTON—The Defense Credit Union Council is urging members of the House Financial Services Committee to support a series of bipartisan financial services bills it said would strengthen consumer protections, improve access to credit and housing, combat fraud and reduce unnecessary regulatory burdens on credit unions.
DCUC has submitted recommendations to committee leadership ahead of the panel’s full committee markup, providing an analysis of legislation scheduled for consideration and offering vote recommendations on behalf of credit unions.
The Defense Council said it evaluated each proposal based on its potential impact on credit unions, consumers, and the financial readiness of servicemembers, veterans, Department of War personnel and their families.
Support for Provisions
In its letter, DCUC said it supports legislation that would:
- Strengthen protections for consumers’ personally identifiable information and enhance data privacy.
- Expand access to homeownership and responsible credit through housing and credit reporting reforms.
- Improve access to mental health services and support financial wellness initiatives.
- Advance regulatory reforms intended to increase transparency while reducing unnecessary compliance burdens.
- Encourage financial innovation while maintaining consumer safeguards.
- Give credit unions additional flexibility to detect and prevent increasingly sophisticated payment fraud.
DCUC said it also emphasized the importance of preserving consumer protections, providing regulatory clarity and maintaining a level playing field for credit unions as financial services continue to evolve.
‘Balanced Approach’
“Congress has an opportunity to advance practical, bipartisan policies that strengthen consumer protections while preserving the ability of credit unions to serve military and veteran communities,” DCUC President and CEO Anthony Hernandez said in a statement. “Our recommendations reflect a balanced approach, supporting responsible innovation, protecting consumers from fraud, expanding financial opportunity, and ensuring member-owned credit unions can continue delivering affordable, mission-driven financial services.”
Jason Stverak, DCUC’s chief advocacy officer, said the organization appreciates the committee’s continued attention to issues affecting credit unions and their members.
“We appreciate the House Financial Services Committee’s continued engagement on issues that matter to credit unions and their members,” Stverak said in a statement. “DCUC looks forward to working with lawmakers to advance balanced legislation that enhances consumer confidence, strengthens financial security, and supports the long-term success of military and veteran communities.”
