Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
House members urge vote on interchange bill
WASHINGTON (8/8/08)--Four members of the U.S. House of Representatives this week urged leadership to commence a full House vote on a bill that would give merchants an antitrust exemption to negotiate interchange fees. The Credit Card Fair Fee Act (H.R. 5546) narrowly squeaked by the House Judiciary Committee last month with a 19-16 vote. U.S. Reps. Peter Welch (D-Vt.), Chris Carney (D-Pa.), Keith Ellison (D-Minn.) and John Yarmuth (D-Ky.) urged House Speaker Nancy Pelosi (D-Calif.) and Majority Whip Steny Hoyer (D-Md.) to bring the bill to full House vote before the Congressional session concludes. The Credit Union National Association (CUNA) opposes government intervention in setting interchange fees. CUNA believes that the tight committee vote and a short remaining legislative calendar will combine to preclude a final vote on an interchange bill this year. However, CUNA President/CEO Dan Mica added that CUNA does not assume H.R. 5546 is dead, and will remain active on the Hill in "beating the legislative drums against floor consideration and passage." "HR 5546 is not necessary for credit unions and will work against consumers in the long run. We will continue to oppose it," Mica added.


RSS print
News Now LiveWire
Even 1 step makes a difference in preparing for disasters #creditunions #NewsNow http://t.co/eFUmMJnIwA
9 hours ago
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
10 hours ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
12 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
12 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
12 hours ago