CU Advocacy Call To Action: Take a Stand Against Interchange Legislation

We thought it might not happen – Then, at GAC, we told our delegation to watch the Agriculture Bill to see if the “Interchange Bill” (technically, the “Credit Card Competition Act of 2023”) would be snuck in there. Well, Interchange legislation has been introduced, and now is the time to act. Introduced this week by a bipartisan group from both chambers of Congress, this bill would make it harder for small businesses to compete with big-box retailers, provide no price relief to consumers, and increase fraud risk for everyone. Do not believe the spin coming from the bill's supporters. At best, they have had the political wool pulled over their eyes. 

Coincidentally, the bill was introduced while League Presidents gathered in Madison for a fly-in at TruStage’s wonderful new facility, Lighthouse. It was a lively meeting that considered, on the one hand, ideas for strengthening the league system for future success and, on the other, articulating the value proposition of the League System to CUNA. The relationship between Leagues and CUNA is an interdependent and symbiotic partnership of equals.  Thank you to TruStage for your generosity and continued partnership.

CALL TO ACTION: Tell Congress to Oppose the 2023 Interchange Bill — Will Hurt Consumers and Credit Unions

Without your help, the 2023 Interchange Bill will give even more power and money to big-box retailers who will squeeze their competition even harder, and continue underinvesting in prevention and protection against fraud to the consumer, small businesses, and credit unions.

Make your voice heard. It will only take a minute to use the prefilled form letter. Even better (as we learned at our state GAC) is to customize the letter with some demographic information about where you live and work. 

The League and CUNA strongly oppose this legislation and need your help telling Congress how changes to interchange would negatively impact more than 135 million credit union members nationwide.

Advocacy lies at the heart of your league. We focus on what we do best in order to help you focus on what you do best — serving your members and bringing financial wellness to your communities.

As always,
Bruce