Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA video calls 93M members to interchange action
WASHINGTON (4/8/11)--Credit Union National Association (CUNA) President/CEO Bill Cheney in a new video calls on the 93 million credit union members nationwide to contact their members of Congress and ask them to “stop, study and start over” on interchange fee cap legislation.
The video has been posted on CUNA’s Facebook page, Youtube.com, and an interchange resource page on cuna.org. The interchange fee proposal does not account for all the costs related to running a debit card program. As CUNA Board Chairman Harriet May mentions, the proposal does not account for fraud-related costs. The video also features remarks from Rep. Debbie Wasserman-Schultz (D-Fla.), in which she asks: Who “can price for the risk of fraud on a $1,000 flat-panel TV with a 12-cent interchange fee.” While credit unions, as non-profits, do not want to raise fees, Cheney in the video warns that they may be forced to if the interchange cap proposal goes through. “This change will have a negative impact ... on our members,” May warns.
Other Resources

RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
8 29 ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
8 29 ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
8 29 ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
8 29 ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
8 29 ago