ICBA urged congressional leaders to support a provision of the Senate's 2021 National Defense Authorization Act that would promote 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. A provision of the defense spending bill would require the Defense Department to treat credit unions and banks the same with respect to rent.
In a joint letter with other groups, ICBA urged lawmakers to include the provision in the final version of the spending bill to end the increasing exodus of banks from military installations.