DCUC Responds to Planned DoD Study of Financial Institutions on Military Bases

The House Armed Services Committee has directed the Department of Defense to conduct a study on financial institutions on military bases.

Non-binding report language submitted by Rep. Stephanie Bice (R-OK) directs the Secretary of Defense to submit a report to the Committee of Armed Services of the Senate and House of Representatives, not later than July 1, 2022 on the following:

• The availability of financial services institutions on military installations
• The degree to which servicemembers and other personnel that live or work on military installations have the ability to choose between different financial services providers, including banks and credit unions on military installations
• Federal policies and regulations impacting access for financial services providers that seek to offer their services on military installations
• A description of how the Department calculates the in-kind value of services provided by financial institutions on military installations, and whether the in-kind value calculated for these services can be used to partially or fully satisfy the fair market value requirement for leasing non-excess property on military installations pursuant to section 2667 of title 10, United States Code.

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