Washington, D.C. — On January 12, 2026, the Association of Military Banks of America (AMBA) and the Defense Credit Union Council (DCUC) submitted a joint letter to congressional leadership expressing strong opposition to the proposed Credit Card Competition Act (CCCA). In a rare alignment, banks and credit unions that serve military communities are united in warning that the legislation would negatively impact service members and their families while primarily benefiting large retailers.
Both AMBA and DCUC emphasized that the CCCA would reduce interchange revenue that supports affordable credit cards, fraud prevention, rewards programs, and essential services such as deployment-relief loans, emergency assistance, and financial counseling. These offerings play an important role in helping military families manage frequent relocations, variable income, and deployment-related expenses. Smaller, on-base credit unions could face challenges in sustaining these services if the bill were enacted.
AMBA and DCUC also raised concerns about the bill’s impact on payment security. By limiting the ability of financial institutions to choose secure payment networks, the CCCA could increase fraud and cybersecurity risks, including deployed service members who depend on reliable access to their accounts. Based on prior experience with debit card fee caps, AMBA and DCUC both caution that consumers are unlikely to see meaningful price reductions, while cardholder benefits and access to low-cost financial services could decline.
AMBA and DCUC urge Congress to reject the CCCA and instead pursue policies that promote competition while preserving consumer protections and supporting the financial readiness of military communities. You can find a copy of the letter here.