Chartway's Blum Testifying on Interchange Bill
Chartway Federal Credit Union Vice President of Operations John Blum is scheduled to testify Wednesday in opposition to legislation that would place additional restrictions on interchange fees.
Blum, who is testifying on behalf of NAFCU and the Electronics Payment Coalition, will appear before the House Judiciary Committee to discuss legislation proposed by Committee Chairman John Conyers (D-Mich.) to allow retailers to join together to negotiate with Visa and MasterCard on interchange rates. To facilitate that, the bill would give the retailers a limited exemption to anti-trust laws.
The meeting is scheduled to begin at 10:00 a.m. and can be viewed at: http://judiciary.house.gov/hearings/hear_100428.html