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NAFCU Urges Lawmakers to Reject Interchange Amendments

Three amendments on the interchange issue would "impose heavy new restrictions on interchange fees," NAFCU Executive Vice President B. Dan Berger wrote Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell today.

By Claude R. Marx | Updated on May 03, 2010

Three amendments on the interchange issue would “impose heavy new restrictions on interchange fees,” and hurt credit unions and other institutions that “assume the risk in the transaction,” NAFCU Executive Vice President B. Dan Berger wrote Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell today.

Berger wrote that the current payment system is “integral in allowing credit unions to compete with the largest financial institutions. Credit and debit products are important tools in developing and fostering relationships with our members.”

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