Pennsylvania Association Urging CU Communications on Interchange
The Pennsylvania Credit Union Association is urging its member credit unions to contact their U.S. Senators to oppose recent amendments on card interchange.
Senator Richard Durbin (D-Ill.) has filed two amendments to the Restoring American Financial Stability Act of 2010, S. 3217 that would restrict some elements of interchange. The association said "these amendments threaten all credit unions' ability to offer debit and credit cards to their members and would allow merchants to interfere with consumer choice by arbitrarily varying the terms of card acceptance."