April 25, 2011 – North Island FCU’s effort to engage its members in seeking support of a delay of the debit interchange rule has met with success, with a related ad on the credit union’s website drawing nearly fives times the response of others posted recently.
The ad, created for the week of April 17, took members to SaveYourDebitCard.com, the site launched by NAFCU recently to help facilitate credit union members’ letters to lawmakers seeking a delay of the Federal Reserve’s debit interchange fee-cap rule.
That activity by North Island occurred the first week of Congress’ current recess. And as that recess continues this week, NAFCU is urging credit unions to redouble their efforts to maximize support for a rule delay by the time Congress reconvenes May 2.
NAFCU is backing S. 575, the two-year delay bill offered by Sen. Jon Tester, D-Mont., and H.R. 1081, a one-year delay bill introduced by Rep. Shelley Moore Capito, R-W.Va.
Most expect the Senate will take up this issue before the House does, and Tester is hoping to get 60 votes in favor to prevent a filibuster. “Though historically a difficult threshold, we believe momentum continues to grow on delaying and studying the price-cap rule,” said Dan Berger, NAFCU’s executive vice president of government affairs, in comments published in Friday’s American Banker
Credit unions and their members are encouraged to keep pressing for support and cosponsorship of the debit rule delay by visiting with lawmakers during the remainder of the district work period. In the alternative, go to SaveYourDebitCard.com
or dial lawmakers’ district offices. For their Washington offices, dial 202-224-3121.