CUNA on Tuesday called on credit unions to share their concerns with the interchange bill introduced by Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.).
The bill would allow merchants to route payments through an unaffiliated network.
CUNA’s action alert, in part, states:
Consumers and merchants alike benefit from the current interchange system. However, some lawmakers in Washington, D.C. are looking to make changes that could impact card security for consumers, make it harder for people to access credit, and increase costs to small businesses. Tell your lawmakers to keep the current interchange system that protects cards and keeps the economy flowing.
Credit union advocates can send a pre-drafted message to their legislators through the CUNA Grassroots Action Center.