John,
Navy Federal Credit Union built its reputation on serving those who serve. But from 2017 to 2022, they ran a scheme that illegally siphoned overdraft fees from the accounts of military families, even when those accounts had the funds.
That’s $80 million stolen from the people who wear the uniform to protect our democracy. They got caught. The Biden-era Consumer Financial Protection Bureau investigated, and Navy Federal admitted to the crime. They agreed to refund their victims and cease their predatory practices. Justice, for a moment, was in motion.
Unsurprisingly, when Donald Trump handed the CFPB over to his loyalists, accountability vanished overnight. The consent order vanished. So did the refunds. And the people who served this country got shafted again.
This is what corruption looks like, a political favor for a financial giant at the expense of service members and their families. Navy Federal can’t say they “prioritize protecting members” if they don’t do it when the time comes. They must honor their word and pay what they owe.
Fight for justice and accountability now by demanding that Navy Federal pay back what it stole now.
If we let this slide, we send a message that accountability can be erased with a change in administration. We open the door for more financial giants to target vulnerable Americans, veterans, low-income families, and students with schemes that only stop when caught red-handed and only pay when politically convenient.
But if we push back, we can expose this cover-up for what it is and make sure justice isn’t just a campaign slogan. The money is there, Navy Federal holds over $180 billion in assets. There is no excuse, no justification, and no deflection that can erase the fact that $80 million belongs in the pockets of those it was stolen from.
The people who sacrificed for democracy deserve to live in one. That means they deserve redress. They deserve transparency. They deserve a credit union that treats them with honor, not as a revenue stream ripe for abuse.
We cannot accept a country where billion-dollar institutions can admit wrongdoing and then, with the stroke of a pen from a MAGA bureaucrat, just decide they’re off the hook.
Click here to send a direct message to CEO Dietrich Kuhlmann and demand that Navy Federal refund the $80 million it owes.
Let’s fight back against corporate abuse, stand up for those who served, and demand the justice our democracy promises to everyone.
- Amanda
Amanda Ford, Director
Democracy for America
Advocacy Fund