Time To Act is NOW!

Changes to the interchange system brings benefits to big box retailers at the expense of consumers! We need to send a strong message to lawmakers.

Last week, Senators Dick Durbin (D-IL), and Roger Marshall (R-KS), introduced a bill that would change the interchange system by allowing merchants to bypass established secure payment networks. We strongly oppose this legislation, as it would bring further financial benefits to big box retailers at the expense of consumers.   
 
Therefore, we have issued an official action alert. Please share with all credit union advocates! There is a slightly different message for House and Senate members since there is only proposed legislation in the Senate currently.

VISIT THE GRASSROOTS ACTION CENTER NOW.  

Consumers across the country rely on credit cards to make life happen, from paying for groceries and school supplies to covering emergency car repairs or medical expenses. Accepted nearly everywhere, credit cards offer robust security, fraud protection, and access to credit that may not otherwise be available.   
 
If retailers are allowed to simply choose the cheaper networks that haven’t invested in the latest security technology, consumer payment data will be vulnerable to foreign networks.   
 
Routing mandates on credit cards will lead to less secure, less innovative, and higher-risk transactions for American consumers. We need to send a strong message to lawmakers that Consumers, small businesses, and small community financial institutions will lose the most if this happens.  
 
You can find valuable talking points here, and please pass this Action Alert along to your colleagues and staff. If you have any questions about this issue or the action alert, please contact Jay Kruse, DakCU’s Chief Advocacy Officer.