From the halls of the Treasury Department to town meetings in the states, credit unions and their allies began the last stages of the fight to kill an amendment to the regulatory overhaul bill that would give the Federal Reserve the power to regulate interchange fees.
CUNA President/CEO Dan Mica and other association officials made the case in a June 1 meeting with Assistant Treasury Secretary Michael Barr and presented a letter saying the change could "result in direct and substantial reductions in credit unions' net worth."
NAFCU officials had phone and e-mail exchanges with senior Treasury Department staff members.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.