WASHINGTON -- CUNA policy committees and subcommittees are evaluating the possible impact of H.R.5546, the Credit Card Fair Fee Act, a bill that mandating changes to credit card interchange under the threat of government intervention.
Ryan Donovan, CUNA vice president of legislative affairs, told reporters on March 10 that the association is looking "very seriously" at the bill and deciding whether the association will take a position on it and whether it will join a coalition of other groups opposed to it. However, congressional contacts had told CUNA not to expect even an attempt to move the bill until April.
The Electronic Payments Coalition, an organization which includes banks, banking associations, a payment CUSO and two CU associations, one of which is NAFCU, are opposing the bill. Donovan said CUNA was also looking at whether or not to join the EPC.
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