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News Now

Washington
CUNA leagues rally CUs to action on interchange
WASHINGTON (5/28/10)—As the effort to affect interchange legislation continues, the Credit Union National Association (CUNA) and credit union leagues are encouraging credit union employees and members to contact their congressional representatives over the upcoming memorial day recess. CUNA and the Leagues are working to help spread credit unions’ anti-interchange-legislation message throughout next week’s scheduled congressional district meetings, where credit union supporters will be able to directly address the interchange issue with their representatives. Credit union backers can also reach their representatives via letter, which CUNA has provided talking points for at http://capwiz.com/cuna/home/ . More direct action will follow in June, with CUNA and the credit union leagues backing a nationwide fly-in and another round of CUNA’s National Hike the Hill set to take place on June 8, 9 and 10. The interchange amendment was included in the Senate version of the regulatory reform package, S. 3217, the Restoring American Financial Stability Act (RAFSA), which passed the Senate earlier this month by a 59-39 vote. However, the House version of regulatory reform, which was passed late last year, does not address interchange fees. As the House and Senate move forward to design a single bill that both houses of Congress can ratify, CUNA will continue its push against the interchange language and urge federal lawmakers to drop any such provision out of a final bill. CUNA President/CEO Dan Mica has called on credit unions to “engage at the grassroots level right away.” For more materials to help in this coordinated effort, use the resource link.


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