Get Involved Now!

We need your help on these important issues ...

Urge Senators Warner and Webb to Oppose S. 3086
(Credit Card Fair Fee Act)

On June 5, Senate Majority Whip Richard Durbin (D-IL) introduced S. 3086, the Credit Card Fair Fee Act. This legislation, which is similar but not identical to legislation introduced by House Judiciary Committee Chairman John Conyers (D-MI), would establish a three-person tribunal to set interchange fees after negotiations between merchants and the payment system fail. The Credit Union National Association (CUNA) and the Virginia Credit Union League opposes legislation that regulates interchange fees and therefore, we oppose S. 3086.

We are encouraging credit unions to write Sens. Warner and Webb and to urge them NOT to co-sponsor or support S. 3086.

Not a Virginia resident? Click the button below to write your senators on S. 3086.

Ask Congress to Oppose H.R. 5546

The Credit Union National Association and Virginia Credit Union League are asking credit unions to contact their Congressional representatives and ask that they oppose H.R. 5546, a bill that would establish a tribunal to regulate the fees charged by the issuers of credit cards to merchants.

These interchange fees allow the administrative costs of credit cards -- including nonpayments -- to be covered by all customers, thus making consumer credit available to more people and affordable for credit unions (and other institutions) to offer.

We especially want to see constituents of Congressmen who serve on the Judiciary Committee, where the bill will be considered, e-mail their lawmakers.

Virginians on Judiciary are Representatives: Rick Boucher (D-9); Bobby Scott (D-3); Randy Forbes (R-4); and Bob Goodlatte (R-6). A hearing may be scheduled as early as May 15, so timely action is needed.

Credit unions oppose H.R. 5546 because it would:

• Impose unnecessary regulation over the card transaction interchange fee process by establishing a costly governmental tribunal that would be authorized to impose its decisions on a system that is more appropriately governed by the market.
• Unnecessarily establish government interference that would harm all participants, including consumers, merchants, and financial institutions. Interchange enables credit unions of all sizes to issue credit cards for its members.
• Likely result in cost-shifting and increased fees for consumers to obtain credit cards.
• Impede technological innovation in the financial services sector. Interchange is just one part of a payment processing system that is an essential component of the overall financial marketplace. Credit unions believe it is not prudent public policy to separate interchange from the overall financial system.

While H.R. 5546 on the surface appears as though it is a consumer friendly bill, in reality it would harm consumers by increasing costs and reducing credit card options.

Not a Virginia resident? Use this link to write your legislator on H.R. 5546.

Secure Your Credit Union's Future...
Ask Your Congresswoman or Congressman
to Co-Sponsor the House Version of CURIA (H.R. 1537)

Congress is now considering the Credit Union Regulatory Improvements Act (CURIA, H.R. 1537), a bill vital to the longterm viability of America's credit unions, both large and small. Write your Congressional representative and urge him or her to support this pro-consumer, pro-credit union legislation.

Not a Virginia resident? Use this link to write your legislator on CURIA.

Secure Your Credit Union's Future...
Ask Virginia's Senators
to Co-Sponsor the Senate Version of CURIA (S.B. 2957)

The U.S. Senate is now considering the Credit Union Regulatory Improvements Act (CURIA, S.B. 2957), a bill vital to the longterm viability of America's credit unions, both large and small. Write your senators and urge them to support this pro-consumer, pro-credit union legislation.

Not a Virginia resident? Use this link to write your senators on CURIA.

Fight New Taxes on Your Family!

America's for-profit banks want credit unions and their member-owners to pay increased taxes. Since credit unions are owned by their members, new taxes on credit unions means new taxes on hardworking families like yours!