MADISON, Wis. (6/8/10)--Credit unions and leagues nationwide are ramping up their media efforts to inform lawmakers and others about the adverse affects an interchange amendment--included in pending regulatory reform legislation--would have on credit unions and consumers. They, along with the Credit Union National Association (CUNA), oppose the adoption of an interchange provision in the reform bill--which would allow the government to set interchange fees--because it would be costly for credit unions and their members. CUNA and the leagues also are sponsoring a national fly-in this week, asking credit union advocates to make personal visits with their lawmakers in Washington, D.C., on the issues involved. Other actions by state credit union leagues:
* Pat Drennen, Iowa Credit Union League board chair, wrote an op-ed piece, “Consumers on losing end of debit card legislation,” that was published in the Des Moines Register Friday. Drennen wrote the piece with Roger Claypool, Iowa Bankers Association board chair. * The next Pennsylvania Credit Union Association (PCUA)-sponsored segment of Pennsylvania Newsmakers will discuss the financial reform bill. During the discussion, Rick Wargo, PCUA executive vice president and general counsel, and Mike Wishnow, senior vice president of communications and marketing, will explain what interchange fees are and how the proposed amendments would affect consumer access to debit and credit cards. The show is slated to air today, Wednesday and on Saturday on local Pennsylvania stations (Life is a Highway June 4). * The West Virginia Credit Union League jointly wrote a letter to the House of Representatives with the West Virginia Bankers Association about interchange. The Ohio Credit Union League is running advertisements about interchange in Sunday’s Columbus Dispatch and Cincinnati Plain Dealer.