House, Senate overturn Trump veto of NDAA
Both chambers of Congress voted to override President Donald Trump’s veto of the fiscal year 2021 National Defense Authorization Act (NDAA).
The House voted 322-87 on Dec. 28 and the Senate voted 81-13 on Jan. 1, with both chambers securing the necessary two-thirds majority to override Trump’s veto.
The bill contains CUNA-supported language to:
- Eliminate redundancies and unnecessary burdens while creating opportunities for efficiencies within the Bank Secrecy Act/Anti-Money Laundering statutory framework; and
- A study to review the current thresholds for Currency Transaction and Suspicious Activity reporting.
It does not contain a provision related to leases on military bases CUNA, Leagues and the Defense Credit Union Council fought to exclude that would have expanded an exemption for certain cost waivers for financial institution branches on military installations.