The number of credit union executives from across the country that turned out on Capitol Hill for the interchange battle was very impressive, especially on such short notice and when travel budgets have been practically bled dry. More than 1,000 made the trek on CUNA’s side hailing from 30 states, while NAFCU called their contacts “substantial.” This turnout followed CUNA’s fly-in in December, attracting 600 or so credit union executives to D.C. to push for member business lending legislation. Credit unions are demonstrating their understanding of the power Washington has over them.

But this time the fight wasn’t about potential powers and income. This trip was about protecting something credit unions already have, which has been estimated around $2 billion in debit interchange income annually for credit unions in aggregate. Plus, an unknown amount of income is on the table through the provision allowing discriminatory card treatment by merchants.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.