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Eleven credit union, banking and payments groups sent a letter on Friday to the leaders of the U.S. House of Representatives and Senate in an effort to squash the Credit Card Competition Act as two senators are attempting to attach the controversial bill to the Senate version of the government funding bill.

Federal funding for the government is set to run out on Sept. 30. And officials from the 11 groups have found themselves in a race against time to stop the Credit Card Competition Act – a bill credit union leaders believe would cause severe harm to credit unions in the card payments landscape.

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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