CUNA's "little guy," will soon be at it again on behalf of credit unions on Capitol Hill, this time to fight efforts to restrict interchange fees.
CUNA has prepared material for leagues to distribute to credit unions so they can provide their members with the material to contact their members of Congress on the issue.
"My credit union's debit and credit card programs are important to me. Please say 'no' to the merchants' proposed interchange legislation," says a postcard, which also has an illustration of the "little guy," whom CUNA has used to symbolize credit unions' work on behalf of the average consumer.
The "little guy," also appears on a poster that credit unions can place in their offices urging members to send postcards to members of Congress.
Mark Caverly, executive vice president of Local Government Federal Credit Union in Raleigh, N.C. is scheduled to testify on behalf of CUNA on Thursday at a House Banking Committee hearing in opposition to a bill on interchange fees, sponsored by Rep. Peter Welch (D-Vt.). The bill would require credit card companies to disclose interchange rates to consumers and businesses and give the Federal Trade Commission the power to review these rates and prohibit practices deemed anti consumer or anti competitive.
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