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Michigan Credit Union League Home » Information Services » Publications » News Articles  

CUNA Calls on CUs to Make Voices Heard on Interchange   (Misc News: March 16, 2011)

Late Tuesday, members of the U.S. House introduced companion legislation to a bill in the U.S. Senat that would delay implementation of the Federal Reserve Board’s proposed rule on debit interchange.

While the House bill differs slightly – it calls for a one-year delay to study the proposal while the Senate bill calls for a two-year study – CUNA thanked the sponsors and co-sponsors for the bills.

Now CUNA is calling on credit unions to step up and thank their representatives and the sponsors for the bill.

“It is imperative that credit unions immediately and resoundingly express their appreciation and support to the sponsors of both bills, as they will certainly come under intense pressure from merchants,” CUNA President/CEO Bill Cheney said in a letter to credit unions. 

Elizabeth Kangas, CUNA’s director of grassroots advocacy, said the association is aiming for 100 percent participation among credit union employees and 3 percent participation among members.

“It is essential to show strong support for S.575/H.R.1081 cosponsors and urge others to cosponsor the bills,” she said.

The House bill was introduced by Rep. Shelly Moore Capito, R-W.V., and Debbie Wasserman-Schultz, D-Fla. They were joined by Reps. Leutkemeyer, R-Mo.; Renacci, R-Ohio; Perlmutter, D-Colo.; Hensarling, R-Texas; Royce, R-Calif.; Canseco, R-Texas; Neugebauer, R-Texas; Bachmann, R-Minn.; Meeks, D-N.Y.; McClintock, R-Calif.; Carney, D-Del.; Gibbs, R-Ohio; Herger, R-Calif., Marchant, R-Texas, Kelly, R-Pa., Bartlett, R-Md., Chaffetz; R-Utah, Kissell; D-N.C.; Gary Miller, R-Calif.; Carolyn McCarthy, D-N.Y.; Polis, D-Colo.; Connelly, D-Va.; Bill Owens, D-N.Y.; Woolsey, D-Calif. In Michigan Democrats Gary Peters and Dale Kildee are co-sponsors.

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