Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
15 minutes ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
8 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
9 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
12 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
12 hours ago