WASHINGTON — NAFCU has appealed for help from a powerful federal legislator in its attempt to fight a major bank card offering on military bases.

The association has written Rep. Carolyn Maloney (D-N.Y.) chairman of the Subcommittee on Financial Institutions and Consumer Credit to raise the issue of the Army and Air Force Exchange Service partnering with J.P. Morgan to offer a MasterCard branded credit card.

“As you know, on base financial institutions (both banks and credit unions) already provide a full panoply of financial services to the armed services and their families under a contract with each base (to include credit cards),” NAFCU wrote. “The on base banks and credit unions are able to develop a relationship with our men and women in uniform and their families and provide them with the necessary financial education to establish and maintain good credit, as well as determine the financial products that are right for them. This is in direct contrast to the credit card being offered by JP Morgan, which can and will lead to more debt, without an upside of promoting savings good financial habits.”

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