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What Did CUs Lose in NDAA Bill Passed by the House?

The latest version of the bill excludes the SAFE Banking Act and one other item CUNA and NAFCU fought to include.

U.S. Capitol building. U.S. Capitol building. (Source: Shutterstock)

Tuesday night, the U.S. House of Representatives, in a vote of 363-70, passed its version of the fiscal year 2022 National Defense Authorization Act (NDAA) for the second time in three months. For credit unions, the bill appeared to keep the status quo as in previous bills.

As in the past, the bill did not include language to allow banks to expand their presence on military bases where credit unions are allowed to exist nearly rent-free on many bases due to the not-for-profit status. This, as in the past, was considered a win for credit unions.

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Michael Ogden

Michael Ogden

Editor-in-Chief for CU Times.

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