Make Your Voice Heard on Credit Card Interchange Bill Today

Credit card payment

The California and Nevada Credit Union Leagues activated its grassroots action platform — Connect for the Cause — after two U.S. senators recently introduced credit card interchange legislation that would impact credit union members’ ability to use their cards.

The legislation would shift interchange cost from big-box retailers to consumers and be a major power grab for the retail industry. The Leagues are asking credit union staff, volunteers, and supporters to act today and tell their local member of Congress to leave the credit card interchange system alone!

The bill was introduced by Sens. Dick Durbin (D-IL) and Roger Marshall (R-KS). It would allow merchants to route payments through an unaffiliated network, bypassing established secure payment networks at the expense of consumers. Routing mandates on credit cards would lead to less secure, less innovative, and higher-risk transactions.

Consumers, small businesses, and small community financial institutions will lose-out the most if this legislation sees success.

“Consumers across the country rely on credit cards to make life happen, from paying for groceries and school supplies to covering emergency car repairs and medical expenses,” said Jeremy Empol, senior vice president of federal government affairs for the Leagues. “Accepted nearly everywhere, credit cards offer robust security, fraud protection, and access to credit that may not otherwise be available.”

He said those card conveniences have a cost. If retailers are successful, they will shift these costs to pad their bottom lines.

“‘Connect for the Cause’ letters from credit union supporters will be immediately sent to senators and members of the House of Representatives,” Empol said. “Credit union advocates can help shift the tide on this issue, which is why we need their support today.”

Send a letter to your local member of Congress HERE.

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