The committee that is reconciling the regulatory reform bills from the House and Senate will meet Tuesday to discuss the interchange amendment in the Senate version. This gives credit unions one final shot to let members of Congress know that the language in the interchange amendment will hurt their members. Credit unions have totaled more than 600,000 emails and phone calls to Capitol Hill and placed numerous stories in the media about interchange. More than 130 members of Congress also signed a letter from Debbie Wasserman Schultz (D-FL) letting the committee know they don't feel comfortable with the interchange language.
The LSCU and CUNA are continuing to reach out to lawmakers ahead of Tuesday's conference committee meeting. The LSCU has staff in Washington D.C. this week meeting with lawmakers and staff. The conference committee is reconciling the differences between the House and Senate versions of regulatory reform. Leadership has maintained that it would like regulatory reform wrapped up before the July 4th holiday break.