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News Now

Washington
Hikes add new issues
WASHINGTON (5/13/08)--Members United Corporate CU and Mid-America CU Association representatives will hike Capitol Hill today and tomorrow to discuss their opposition to legislative limits on interchange fees in addition to seeking Senate co-sponsors for the Credit Union Regulatory Improvements Act (CURIA). This week, the House Judiciary Committee is expected to take up discussion on H.R. 5546, the Credit Card Fair Fee Act. The Credit Union National Association (CUNA) opposes the credit card legislation because it would “impose unnecessary regulation over the card transaction interchange fee process by establishing a costly governmental tribunal that would be authorized to impose its decisions on a system that is more appropriately governed by the market.” (See related story this issue: CUNA targets interchange issue) Next week, representatives from credit unions in South Carolina and Texas are scheduled to hike Capitol Hill. At least 24 hill hikes are scheduled through September. Members United is located in Warrenville, Ill. Mid-America, located in Bismarck, N.D., represents credit unions in the Dakotas.


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