Money and the U.S. Capitol
America’s Credit Unions has urged the U.S. Senate to reject proposed amendments to the FY2026 National Defense Authorization Act (NDAA) that would alter the credit card interchange system.
In a letter to Senate leaders, the trade association warned that the amendments would impose unnecessary compliance burdens on credit unions, increase costs and reduce consumer access to credit. The group raised concerns about the potential for higher fraud risk and diminished protections for cardholders under the proposed changes, which are believed to mirror provisions in the Credit Card Competition Act.
America’s Credit Unions emphasized that the current interchange framework supports investment in fraud prevention, cybersecurity and secure transaction processing. The group also objected to including controversial financial regulations in national defense legislation, noting that such policy changes fall outside the scope of the Armed Services Committees.
The letter urged lawmakers to preserve the existing interchange system, arguing that the proposed changes would have negative consequences for consumers, small businesses and community-based financial institutions.
The NDAA is expected to face further debate in the coming weeks as lawmakers consider amendments before final passage.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.