NAFCU urges members to Act on Interchange and NCUA Vendor Authority

August 11, 2022 by NAFCU Newsroom

In a message to members, NAFCU Vice President of Legislative Affairs Brad Thaler highlighted the association’s recent advocacy initiatives on Capitol Hill regarding important credit union topics and encouraged credit unions to engage with lawmakers on two important pieces of legislation.

Even with Congress out most of the month for August recess, Thaler urged credit unions to use this time to contact legislators and let them know credit union concerns on issues such as interchange and NCUA vendor authority.

He called on credit unions to contact their Senators to express opposition to the interchange bill (S.4674) proposed by Sens. Dick Durbin D-Ill., and Roger Marshall, R-Kansas. NAFCU recently outlined the negative impacts this bill will have on credit unions in a letter to the Senate.

In addition, Thaler encouraged credit unions to act to express opposition to granting NCUA greater authority over credit union vendors, such as has been proposed recently in the Improving Cybersecurity for Credit Unions Act (S.4698). Last Friday, NAFCU Senior Vice President of Government Affairs Greg Mesack wrote to the Senate in opposition of the bill.