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On-Site Coverage: Next Round of Interchange Legislation Likely to Include Small Issuer Concessions

WASHINGTON -- No one has introduced federal legislation addressing credit card interchange yet, but when they do at least one proposed bill may include protections designed to help credit unions and other small card issuers, according to a hill staffer.

By David Morrison | Updated on February 23, 2009

WASHINGTON — No one has introduced federal legislation addressing credit card interchange yet, but when they do at least one proposed bill may include protections designed to help credit unions and other small card issuers, according to a hill staffer.

Daniel Swanson, a counsel to Senator Richard Durbin (D-Ill.) told credit union executives attending a break out session of CUNA’s Governmental Affairs Conference on Interchange that Senator Durbin, a chief sponsor of interchange legislation in the last Congress, has heard the concerns of credit unions and other smaller issues and is prepared to include some of their points of view in the next round of legislation.

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