Congress Considers Action that Would Significantly Impact Credit Unions & Consumers

Lawmakers are discussing the possibility of extending the Durbin amendment to credit card programs.

As you recall, the Durbin Amendment was established in 2010 as a provision of the Dodd-Frank Act, and requires the Federal Reserve Board of Governors to cap the debit card interchange fees that large banks charge. It also requires card networks to provide merchants with an option to route through at least one additional network. Now Senator Dick Durbin (D-IL) is working on legislation that would apply similar limitations on credit interchange.

The Leagues and CUNA need your help in gathering credible data on the costs and return on credit card programs to better understand how changing interchange regulations could impact your members and operations. Please take a few minutes to complete this brief survey if you are a credit union with a credit card program. All survey responses are confidential.

Take the Interchange Survey