FOR IMMEDIATE RELEASE
September 19, 2022
Credit Union National Association (CUNA) is working with Leagues, credit unions and other industry trade groups to counter efforts to undermine the current interchange system.
Reps. Peter Welch, D-Vt., and Lance Gooden, R-Texas, today introduced the House version of the Credit Card Competition Act. Sens. Roger Marshall, R-Kan., and Dick Durbin, D-Ill., introduced the bill in the Senate in August.
“This bill would break a system that we know works, and put consumers’ sensitive financial data at risk, just to give big box retailers yet another windfall,” said CUNA President/CEO Jim Nussle. “We will continue to stand behind credit unions and other community financial institutions in strong opposition to this bill.”
CUNA issued an action alert calling on credit unions to send messages of opposition to Capitol Hill, resulting in more than 27,000 messages as of this week.
CUNA also launched a Member Activation Program (MAP) campaign encouraging credit unions to activate their members in opposition.
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 130 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.