Trades Redoubling Efforts on Interchange
Although there isn’t likely to be any congressional action on the interchange issue before Congress leaves town for recess at the end of the week, CUNA and NAFCU are working hard to get their members to lobby lawmakers.
CUNA is holding a national teleconference at 3 p.m. ET on Wednesday to brief people on the issue and encourage them to take action. In addition, the trade association has produced a YouTube video explaining the issue.
Since March, the trade association has generated almost 85,000 contacts with lawmakers via phone, email and personal meetings.
NAFCU said it has had thousands of contacts in person and via email and is making use of the website at www.saveyourdebitcard.com to enable people to write lawmakers. In addition, the association has sent letters to lawmakers stating its position. Through the website alone, it has generated 16,310 contacts, NAFCU said.
The House and Senate are likely to deal with budget issues this week and lobbyists for CUNA and NAFCU said there isn’t likely to be legislation to delay implementation of the Federal Reserve’s debit interchange rule until lawmakers return from recess next month.