A unified front on overdraft, interchange

America’s Credit Unions is here to provide a unified voice for the credit union industry, and this week showcased the relentless advocacy and coordination of our team, member credit unions, Leagues and other stakeholders to do just that.

Yesterday, we provided a member update on the NCUA’s changes to call reports to require reporting of overdraft and other fee income. These changes come with several concerns, but ultimately, we’re fighting to defend credit unions’ ability to offer the services consumers need to achieve their best lives. For many families, that means having a safety net in place when it’s hard to make ends meet. We will continue to work closely with members to tell the real story of protection programs.

Additionally, for months we’ve been presenting detailed, data-driven concerns with the Federal Reserve’s debit interchange proposal—including in person to the Fed governors themselves. Now the May 12 comment deadline is rapidly approaching and it’s important the credit union voice is heard loud and clear.

Make sure you send in a comment letter. Although the proposal has an asset threshold, we all know these “exemption thresholds” end up impacting all institutions, so each and every comment matters. America’s Credit Unions has data and other resources available to help you bolster your letter. We can help paint the complete picture of this proposal’s negative impact.


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