In advance of today's vote on an interchange amendment, NAFCU members and credit union leagues are re-doubling their lobbying efforts to kill the proposal.
"The association needs your grassroots help and we need it today," Christina Mihalik, vice president of governmental affairs of the Pennsylvania Credit Union Association wrote in an e-mail to members.
Similar letters went out from other leagues.
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The leagues are asking members to urge senators not to allow the amendment to come up for a vote by objecting to the request for "unanimous consent," which is needed for debate to begin.
NAFCU has a similar effort going on from its members, NAFCU also co-sponsored an advertisement with the Independent Community Bankers of America that ran in several Capitol Hill publications.
"Don't allow merchants to set arbitrary, unlimited minimum or maximum amounts when you use or debit or credit card. Don't leave consumers out in the cold," the ad said.
CUNA and NAFCU both said they would oppose the regulatory overhaul bill if the amendment were included.
Senate Majority Whip Richard Durbin (D-Ill.) is sponsoring a measure, which would authorize the Federal Reserve to ensure that debit card fees are "reasonable and proportional," in relation to processing costs. It would exclude credit unions and community banks credit unions with assets of less than $1 billion,
It would also allow merchants to set a minimum or maximum amount for each transaction and let them offer additional discounts for using a certain type of card or cash.
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