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CUs: Use NAFCU’s Grassroots Action Center to push back against interchange
NAFCU Vice President of Legislative Affairs Brad Thaler sent members a message Friday urging action to educate lawmakers about the negative impacts that changes to interchange laws could have on consumers and credit unions. The call to action comes as Senator Dick Durbin, D-Ill., is expected to reintroduce the Credit Card Competition Act (CCCA) in the coming weeks. Last Congress, Sens. Durbin and Roger Marshall, R-Kan., introduced the legislation – which seeks to regulate credit card interchange rates by requiring multiple routing networks for credit transactions, granting merchants the option to choose cheaper, untested networks. A House version of the bill was also introduced last year.
NAFCU relentlessly advocated against the CCCA guided by direct feedback from member credit unions. The best messenger with policymakers in Washington are credit unions on the frontlines trying to meet the needs of their members. The association is urging credit unions to use NAFCU’s Grassroots Actions Center to send a message to their lawmakers urging them to oppose the harmful legislation. NAFCU also encourages credit unions to share a statement that the association can publicly use with media, members of Congress, and others to oppose this bad policy.
Explore the Grassroots Action Center and stay tuned to NAFCU Today for the latest on the issue.