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By Major General Stephen J. Lepper, USAF (retired) – President & CEO, American Military Banks of America & Colonel Anthony R. Hernandez, USAF (retired) – President & CEO, Defense Credit Union Council Published in American Banker on December 21, 2022 The lame-duck Senate recently considered and rejected an amendment to the 2023 National Defense Authorization Act that could have inflicted unintended financial harm on our nation’s military families. That amendment is the Credit Card Competition Act of 2022. Why was it an amendment to the NDAA?  Because its sponsors, Sens. Dick Durbin and Roger Marshall, know the only way their proposal will become law is if it’s attached to the only legislation that must pass before the end of this Congress. Since it didn’t pass as part of the NDAA, its sponsors are now looking for other “must-pass” legislation. Last-minute funding bills — continuing resolutions or omnibus appropriations bills — will be their most likely targets. Americans generally, and military families in particular, should be concerned about this proposal because it’s a wolf in sheep’s clothing. Beneath its promise to lower consumer costs by increasing competition among credit card payment networks lies the significant risk that not only will Americans