Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Testimony on Vermont card bill slated for Wednesday
MONTPELIER, Vt. (4/19/10)--Testimony will begin Wednesday in the Vermont House Commerce Committee on a bill that would endanger how and where Vermont credit union members’ credit and debit cards are accepted, according to the Association of Vermont Credit Unions (AVCU). ACVU President Joe Bergeron issued an action alert to the state’s credit unions with talking points aimed at helping legislators understand the consequences the bill would have for consumers and merchants (Newsline Express April 16). “Credit unions need to explain to member of House Commerce why this bill is bad for Vermont consumers and the potentially seriously negative consequences it could have on the entire state economy,” he said. AVCU is urging credit union leaders across the state to make contact with House Commerce members. The bill, S. 138, is part of a national strategic effort that seeks passage of interchange control legislation, AVCU said. It would:
* Allow merchants to set minimum and maximum amounts for acceptance of debit and credit cards; * Forbid electronic payments system network processors from imposing penalties or requirements on the way merchants advertise, thus allowing merchants to add a surcharge for customers using a credit or debit card in the state; and * Require a state regulatory study, due Dec. 15, 2011, to determine the economic impact on banks, credit unions and consumers of prohibiting electronic networks from inhibiting merchants as to whose cards they can not accept.
Other Resources

RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
1 day ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
1 day ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
1 day ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
1 day ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
1 day ago