Credit Unions on Capitol Hill Opposing Military-Banking Parity

Sep 24, 2019
Credit union representatives are in Washington this week seeking to strip ICBA-advocated language from a pending defense bill that promotes parity between banks and credit unions on military bases.

While banks on military bases are required to pay rent for the use of facilities, credit unions may operate rent-free. Under the Senate version of the 2020 National Defense Authorization Act, if the Defense Department waives or charges rent for credit unions, it would be required to do the same for banks.

ICBA continues calling on lawmakers to include the parity provision in the final spending bill, as it did in a recent joint letter with other banking groups.