America’s Credit Unions President/CEO Jim Nussle appeared on Charlotte news station WCNC to discuss how credit unions are working to protect American consumers’ sensitive data.
Nussle emphasized that interchange fees are an integral part of how credit unions protect consumers from credit card fraud, which totaled nearly $14 billion in 2023. He added the importance of safeguarding your banking information. Additionally, Nussle noted that consumers should review their monthly statements to verify the purchases are theirs.
Nussle pointed out that retailers are threatening the safety of the payments system with the Big Box Bailout bill, which America’s Credit Unions has highlighted will have negative impacts on consumers, small businesses, and institutions like credit unions.
He concluded by expressing credit unions’ commitment to ensuring the payments system remains safe and convenient while allowing consumers to afford the life they want.
