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Credit unions continue full court press on interchange

Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, continues to say that regulatory reform will be finalized by the end of June. This give credit unions

about three weeks to really push federal lawmakers to have the interchange amendment removed from the final legislation. Rep. Frank believes the debate in conference committee will really heat up around June 15.

The LSCU and CUNA is asking every credit union to have its CEO, staff and board members call their federal lawmakers and let them know how the interchange amendment will be detrimental to members and the credit unions ability to offer a debit card program. The LSCU has many resources in place to make this an easy process. Credit unions can simply call 866.223.5275, input their zip code and they will be routed to their member of Congress. It's vital that as many credit unions, staff and members call to voice their displeasure with the amendment.

Credit unions can also go to the LSCU's Political Action Alert page and find background information, lobby posters (example to the right), an action plan and a phone script. CUNA has produced a video from CEO Dan Mica talking about interchange and how credit unions can help. You can access the video by clicking here. It might be good to show this to staff and board members. For any questions, contact LSCU Grassroots and Political Action Coordinators Robbie Gordon (Alabama) at 866.231.0545 ext. 2164 or Justin Thames (Florida) at ext. 1010.