WASHINGTON—As Washington’s credit card debate intensified last week, the Defense Credit Union Council moved quickly to brief its members, while also convening a Jan. 16 meeting to walk member credit unions through fast-moving legislative, regulatory, and political developments—and to map out what could come next on Capitol Hill.
The Friday session, held just ahead of the holiday weekend, drew more than 80 credit-union leaders and focused on helping members make sense of a turbulent policy environment that now includes President Trump’s call for a nationwide 10% cap on credit-card interest rates, the reintroduction of the Credit Card Competition Act, and renewed attention to digital-asset legislation. DCUC framed the meeting as part of its broader effort to keep military-affiliated and defense-focused credit unions informed while coordinating closely with the rest of the credit-union industry.
“With everything that was happening and changing so quickly, we decided early in the week to pull everyone together,” said Anthony Hernandez, president and CEO of DCUC. The goal, he said, was to provide members with the most up-to-date information on what unfolded during the past week and to outline what to expect over the next 30 to 45 days as Congress returns to work.
Much of the discussion centered on credit-card policy. Hernandez said DCUC briefed members on the status of the proposed 10% interest-rate cap and the revived Credit Card Competition Act, including how and where each measure could advance procedurally in the Senate and House. The group also touched on digital-asset proposals that surfaced during the week, noting the potential jurisdictional split between the Senate Banking and Senate Agriculture committees.
Beyond individual bills, DCUC walked members through the broader legislative landscape ahead, including the risk of another government shutdown, a crowded appropriations calendar, and a slate of must-pass spending measures that could become vehicles for financial-services policy. Hernandez said DCUC emphasized that it is prepared to “rapidly escalate” advocacy and communications efforts depending on how Congress moves on credit-card legislation.
The meeting also delved into longer-term implications for credit unions, including how a 10% statutory cap could interact with the National Credit Union Administration’s current 18% temporary interest-rate ceiling, which is set to expire in March 2026. Participants discussed whether and how to highlight credit unions’ existing rate limits in public advocacy, as well as the political sensitivities around rewards credit cards and their perceived benefits for higher-income consumers.
Hernandez described the session as highly interactive, with robust dialogue in the chat and extensive Q&A. DCUC shared research and data—including numerous studies warning that interest-rate caps can reduce access to credit—to help members prepare for potential grassroots outreach to lawmakers.
Looking ahead, Hernandez said the meeting reinforced the need for tighter coordination across the entire credit-union system. He reiterated DCUC’s call for regular, joint advocacy discussions among national trade groups, leagues, and system partners, arguing that recent events show how quickly policy debates can shift. DCUC, he said, is willing to help convene those conversations and maintain a steady “battle rhythm,” whether quarterly or as circumstances require.