NAFCU, trades flag consequences of interchange legislation

NAFCU joined with several other financial services trade organizations to warn congressional leaders about the detrimental impacts legislation to expand interchange price controls would have on consumers, credit unions, and other financial institutions.

The legislation, sought by big-box retailers, was reintroduced last week and would extend the debit routing provisions of the 2010 Durbin Amendment to credit cards. It closely mirrors the bill from last Congress, which NAFCU successfully kept from moving forward. NAFCU is fully engaged with members of Congress to highlight this deeply flawed policy.

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