A legislative error is discovered involving credit unions and banks on military bases.
An error in drafting legislation could kill a fragile deal that would allow banks and credit unions to have branches on military bases without paying rent—a benefit that only credit unions now enjoy.
The deal would have settled a longstanding battle between financial institutions over a provision of federal law that currently allows military officials to offer free rent to credit unions if 95% of the members served by the branch are members of the military.
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