April 27, 2017

Thaler cites merchant push-back, calls for Durbin amendment grassroots action

NAFCU Vice President of Legislative Affairs Brad Thaler on Thursday called on NAFCU members to contact their lawmakers and seek support for repealing the Dodd-Frank Act's Durbin amendment through passage of the Financial CHOICE Act.

"The House Financial Services Committee is expected to mark up the legislation as early as next Tuesday," Thaler wrote in a message to association members. "It may see action on the House floor before the end of May. The merchants have launched a grassroots campaign to try to strike this provision from the bill.

"NAFCU is asking each credit union to make as many contacts as possible from your executives, staff, volunteers or members in the next few days to the representatives of the districts where your credit union has a presence," Thaler continued. "Now is the time for credit unions to take action and counter the merchants' message and urge support for the Durbin amendment repeal."

Thaler directed credit union representatives to and urged them to visit NAFCU's Grassroots Action Center for more information about contacting lawmakers.