Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU testifies at Pa. ATM-surcharge hearing
PHILADELPHIA (5/10/10)--Lee MacMinn, Pennsylvania Credit Union Association (PCUA) Governmental Affairs Committee member and president/CEO of Freedom CU, Warminster, testified Thursday about ATM surcharges on behalf of Pennsylvania credit unions before the State House Commerce Committee.
Lee MacMinn (right) of Freedom CU, Warminster, Pa., testifies before the State House Commerce Committee during a hearing in Philadelphia on ATM surcharging. (Photo provided by the Pennsylvania Credit Union Association)
The hearing was held at the Wharton School of Business in Philadelphia to gather input from stakeholders about ATM surcharging and disclosure, and preauthorized electronic fund transfers (Life is a Highway May 7). Although Regulation E provides a safety network for consumers, the hearing allowed MacMinn to explain what credit unions do for their members in these areas, PCUA said. MacMinn provided the committee with an overview of how credit unions have proactively responded to the issue of surcharging by joining networks like CU$, CO-OP Network, Allpoint, and Shared Branching, so members can access ATMs. State Rep. Rosita Youngblood (D-Philadelphia), the sponsor of the ATM surcharging bill and longtime credit union member, said she and her family feel that they all have a stake in their credit union and recommended that other financial institutions look at implementing programs such as CU$ for their customers. Payday lending and overdraft protection also were discussed at the hearing because some committee members have been hearing concerns from their constituents, said PCUA. State Rep. Curtis Thomas (D-Philadelphia), the sponsor of the electronic funds transfer bill, thanked credit unions for being the best weapon to combat predatory loans. Christina Mihalik, PCUA vice president of governmental affairs, also attended the hearing.
Other Resources

RSS print
News Now LiveWire
Are consumers bailing on cards, going back to using cash? via @CrainsChicago http://t.co/PrZLjA4zUv
1 minutes ago
Will shoppers avoid data-breached retailers this holiday season? #NewsNow #creditunions http://t.co/nzI44BX2sq
19 minutes ago
Krebsonsecurity reported 10/14 banks said they ID'ed pattern of credit/debit card fraud & several Staples locations may be dealing w/breach.
32 minutes ago
ABC News, others report Staples is looking into a potential credit card data breach.
36 minutes ago
3 Atlanta fed judges recuse themselves from Home Depot data breach suits via @AtlBizChron http://t.co/lfPgOXZ7sO
16 hours ago