CUNA's campaign to sway the Federal Reserve Board to revise the rules governing interchange debit caps turned its attention Wednesday to special bank/credit union panels set up last fall by Fed Chairman Ben Bernanke.
In an email sent to the more than two dozen CEOs who sit on the Fed-appointed Community Depository Institutions Advisory Councils, CUNA President/CEO Bill Cheney urged the CU leaders to make contact with regional Fed presidents to press the industry's interchange cause.
"I am contacting you as a member of the Federal Reserve Bank's CDIAC to request the president of your Federal Reserve Bank" to get in touch with individual Fed Board governors urging they consider the serious financial harm rules will have on CUs if implemented as proposed on July 21, Cheney said.
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