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N.Y. Pa. CUs meet on interchange with lawmakers
ALBANY, N.Y., and HARRISBURG, Pa. (5/25/11)--Debit interchange fees was the topic addressed at meetings that New York and Pennsylvania credit unions recently held with their respective members of Congress.
Talking about interchange last week at the office of U.S. Rep. Ann Marie Buerkle (R-N.Y.) were, from left: Michael Lanotte, John Stevenson, Michael Vadala, John Wakefield, Vicky O'Neill, William J. Mellin, Pamela Heald, Jack Houseknecht, Marilyn Marra-Crolick, Christine Peters, Buerkle, Mark Pfisterer, Luis Marina, Mike Giles and Ann Tyler. (Photo provided by the Credit Union Association of New York)
Fifteen leaders from nine New York credit unions and the Credit Union Association of New York met Friday with freshman U.S. Rep. Ann Marie Buerkle (R-N.Y.) at her Syracuse office. The only item on their agenda was interchange. Buerkle listened as the group explained the ins and outs of the Dodd-Frank Act and how--in its current state--it would be detrimental not only to members but to all consumers nationwide, said the association. They shared letters from their members asking support for H.R. 1081, legislation proposed by U.S. Rep. Shelley Moore Capito (R-W.Va.) and seeking a delay of the implementation of the Federal Reserve's debit interchange rule until a more comprehensive study of its implications can be completed. Five congressional representatives from the state are co-sponsors of the bill. Association President/CEO William J. Mellin and Senior Vice President/General Counsel Michael Lanotte were joined by leaders from AmeriCU CU; ACMG FCU; CORE FCU; Empower FCU; Family First of NY FCU, Focal Point FCU, Reliant Community FCU, The Summit FCU, and Visions FCU.
U.S. Rep. Mike Kelly (R-Pa.), center, met with Erie, Pa., credit union representatives, from left: Erie FCU's Tracey Cettin, director of human resources; Brian Waugaman, chief operating officer, and Mary Beth Wilcher, CEO; and Erie General Electric FCU's Gail Cook, CEO; and Trent Mason, chief managing officer; and Sandi Carangi, vice president of business services, Erie FCU. (Photo provided by the Pennsylvania Credit Union Association)
In Pennsylvania, credit union officials met with U.S. Rep. Mike Kelly (R-Pa.) at Erie (Pa.) FCU's corporate office to thank him for supporting the interchange delay legislation. The group emphasized that the Fed's proposal would hurt the ability of smaller financial institutions to serve members and operate. The Pennsylvania group also discussed raising the member business lending cap as well as the state and federal budgets and reliance of domestic energy. The Credit Union National Association supports both the legislation to delay implementation of the interchange rule until a study can be completed on the effects of the rule, and a measure that would raise credit unions' member business lending cap to 27.5% from 12.25%.


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