Interchange wars: Why ‘top of wallet’ is no longer enough

CUNA, AACUL interchange study generates media coverage

July 14, 2023

The study released Monday by CUNA and the American Association of Credit Union Leagues shows the true cost of interchange, and the harm that would result of Congress passes the current interchange bill. CUNA, Leagues, and credit unions brought the study to policymakers as they advocated against the bill, and media outlets around the country picked it up as well.

Forbes ran an article by Cornerstone—which conducted the study—Chief Research Officer Ron Shevlin, showing how new interchange regulations would hurt consumers and small businesses.

Other media hits include:

  • ValueWalk highlighted the study as showing “the negative impact of interchange regulation on consumers and small businesses.”
  • Truth on the Market showed how the bill would “would harm other forms of competition—notably in the variety of credit cards available and the range of benefits provided to cardholders.”
  • Digital Transactions said the study argues “Congress should scrap the proposed Credit Card Competition Act and ‘significantly’ raise the asset cap set out in the 12-year-old Durbin Amendment.”
  • Credit Union Times covered the recommendations from the report, that the asset threshold tied to debit card transactions should be raised, and future credit card regulations should not be enacted.