Concerns Over Treasury Nominee
Recently, there have been discussions about how DCUC advocates for military financial well-being amid the ongoing concerns over the Treasury nominee.
DCUC has expressed its concerns to the Senate Finance Committee regarding the nomination of Ken Kies as Assistant Secretary of the Treasury for Tax Policy. In a letter to the committee, DCUC urged them to question Kies about his past advocacy for repealing credit unions' tax-exempt status. They are seeking assurance that he will not pursue policies that undermine the credit union mission. DCUC emphasizes that eliminating this tax exemption would severely restrict financial resources and services for military families.
“Undermining this long-standing policy—one that rightfully acknowledges the unique, cooperative nature of credit unions—would have devastating consequences on the communities that rely upon credit unions and bring an improper balance within our financial ecosystem. Credit unions remain steadfast in their mission to serve members, providing essential financial resources that help Americans achieve lasting financial security. Congress must recognize that this debate is settled and revisiting it now would directly undermine the Administration’s goals for economic stability and consumer financial well-being.”
Opposition to Texas Senate Bills
In addition to this, DCUC is also opposing Texas Senate Bills SB-2026 and SB-2056. They have warned the Texas Senate Committee on Business and Commerce that these bills would disrupt the current payment system. DCUC argues that the bills would benefit large retailers at the expense of consumers and reduce affordable credit for service members, veterans, and their families. The organization is urging lawmakers to reject these bills to protect military communities from financial harm and to pursue alternative solutions that promote fair competition while safeguarding financial security.
Protecting Military Families
Jason Stverak, DCUC Chief Advocacy Officer, explained that the Texas bills would grant windfall profits to large retail merchants without passing any savings to consumers and would harm service members, veterans, and Gold Star families. DCUC warns that these bills would risk limiting access to credit, weakening consumer protections, and undermining the financial security of military families.
“By rejecting these bills, lawmakers can prevent financial harm to service members and allow credit unions to continue their mission of providing safe, reliable financial services.”
DCUC remains committed to advocating for policies that protect and strengthen the financial well-being of those who serve the nation.
