” . 07/17/2025 05:53 pm Tweet WASHINGTON—In a significant shift that could have major implications for the credit union industry, House Republican leaders have agreed to attach the Anti-CBDC (Central Bank Digital Currency) Surveillance State Act to the must-pass FY2026 National Defense Authorization Act (NDAA)—a move that has raised alarm bells within the Defense Credit Union Council, which became aware of the decision on Thursday.Jason Stverak, DCUC’s chief advocacy officer, told CUToday.info the move sets a precedent that could pave the way for other unrelated financial legislation—most notably, the controversial Credit Card Competition Act (CCCA)—to be added to the NDAA as well.“For years, one of the effective arguments against attaching the Marshall-Durbin bill to the NDAA has been the need for a clean defense bill,” said Stverak. “That argument could be no longer valid now that the House appears willing to use the NDAA to carry a major financial services measure. This could open the door to others—especially the CCCA.” Jason Stverak The Anti-CBDC provision was reportedly added as part of a deal with conservative lawmakers to allow broader crypto regulatory legislation to advance. While not directly related to credit unions, the act’s inclusion in the NDAA signals a growing willingness in Congress to use the annual defense package as a vehicle for non-defense priorities.Real And Immediate Risk“This creates a real and immediate risk,” Stverak said. “We are already hearing that retailers and their lobbyists are reaching out to members of the House Armed Services Committee to push for the CCCA to be added next. If they don’t try to attach it this time, they’d be foolish.”The Credit Card Competition Act, introduced by Senators Roger Marshall (R-KS) and Dick Durbin (D-IL), would impose new routing requirements on credit card transactions. Credit unions and banks argue the bill would increase costs, reduce fraud protections, and ultimately hurt consumers—especially those in rural and underserved areas.Stverak said the House move could breathe new life into the CCCA after several failed attempts to attach it to major legislative vehicles in past years.“We’re hearing directly from Hill staff that the anti-CBDC language going into the NDAA means only one thing: Marshall-Durbin is back on the table,” he said.In recent years, both the credit union and banking industries have fought hard to keep the NDAA free of major financial reforms that haven’t gone through the normal legislative process. Their argument has been rooted in the idea that the NDAA should remain focused strictly on national defense. That firewall, however, may have just been breached.“The NDAA now has a financial services section,” Stverak said. “That changes the conversation. If the anti-CBDC bill can ride along, why not Marshall-Durbin is what the retailers are already asking Members of Congress.”With the Senate still deliberating its own version of the NDAA, the next 10 days could prove critical.“If Marshall wants to push for a vote on the CCCA now, the stage is set,” Stverak warned. “Not preparing for that possibility would be advocacy malpractice by credit unions.”Letter To Senate LeadersDCUC Thursday sent a letter to Senate leaders, DCUC urging them to oppose any effort to include the CCCA in the Senate’s version of the NDAA.“As the key advocate for military and veteran-serving credit unions, DCUC is deeply concerned about the harmful effects this legislation would have on servicemembers and their families,” Stverak wrote. “The CCCA threatens to reduce the critical services that defense credit unions provide, such as affordable credit cards, emergency loans, and financial readiness programs. We believe this proposal would undermine military financial security and is an inappropriate policy to include in such a vital national defense bill.“We respectfully ask for your attention to this matter and strongly urge you to ensure that the CCCA does not become part of the NDAA,” continued Stverak. “In addition, we welcome the opportunity to meet with you or your staff during the upcoming August recess to discuss this issue and other related NDAA matters that impact military financial readiness.” Section: Standard Word Count: 815 Copyright Holder: CUToday.info Copyright Year: 2025 Is Based On: URL: . ”
