The big box interchange bill would make everyday purchases riskier for American consumers while padding the bottom lines of the country’s largest retailers, Cornerstone League President/CEO and CUNA Board Vice Chair Caroline Willard wrote in The Washington Times.
The big box interchange bill would hurt consumers and small businesses, while benefiting big box retailers, Ohio Credit Union League Board Chair and Day Air Credit Union President/CEO Bill Burke wrote the Dayton Daily Newsand the Cincinnati EnquirerTuesday.
CUNA joined financial services organizations Friday in strong opposition to attaching the big box interchange bill to the FY24 National Defense Authorization Act in a letter sent to Congressional leaders, including chairs and ranking members of House and Senate Armed Services Committees.
The study released Monday by CUNA and AACUL shows the true cost of interchange, and the harm that would result of Congress passes the current interchange bill. Credit unions brought the study to policymakers and media outlets around the country picked it up as well.
The big box interchange bill would create costly new regulations and make consumers' financial data vulnerable, League of Southeastern Credit Unions and Affiliates President Samantha Beeler wrote in The Florida Standard.
CUNA Chief Political Officer Richard Gose spoke with CUBroadcast on the latest credit union advocacy against the Durbin-Marshall-Gooden-Lofgren interchange bill, and why credit unions are so concerned with the bill. Gose encouraged viewers to contact policymakers to oppose the bill using CUNA's Grassroots Action Center.
CUNA and organizations representing the entire financial services industry wrote leaders in strong opposition of the interchange bill that would hurt consumers and benefit big box retailers by reducing the number of credit card issuers and putting the payments system under the micromanagement of the Federal Reserve.
America’s credit unions and their more than 135 million members vehemently oppose the Credit Card Competition Act, CUNA Deputy Chief Advocacy Officer Jason Stverak wrote to all members of Congress Friday. CUNA and Leagues have issued an action alert for stakeholders to send messages of opposition to the bill.
CUNA Deputy Chief Advocacy Officer Jason Stverak appeared on the Live Richer podcast recently to discuss negative effects of the Credit Card Competition Act. CUNA, Leagues, and credit unions prevented the from moving forward in the previous Congress, despite efforts to include it in must-pass end-of-year legislation.