Senators ask Pentagon why credit unions don’t pay rent on bases

Senators want to know why credit unions, but not banks, receive free rent on military bases, according to the just-released Senate version of the FY23 defense authorization bill.

And they want Pentagon officials to brief them on the issue by March 1.

The bill, which is awaiting Senate floor action, does not contain several House-passed provisions that would affect credit unions. For instance, the Senate bill does not contain the House-passed plan to provide credit unions and banks with a regulatory safe harbor if they provide financial services to marijuana-related businesses in states where cannabis is legal.

If that provision is not added on the Senate floor, it will have to be hammered out in a conference with the House.

 

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