WASHINGTON -- CUNA policy committees and subcommittees areevaluating the possible impact of H.R.5546, the Credit Card FairFee Act, a bill that mandating changes to credit card interchangeunder the threat of government intervention.
Ryan Donovan, CUNA vice president of legislative affairs, toldreporters on March 10 that the association is looking "veryseriously" at the bill and deciding whether the association willtake a position on it and whether it will join a coalition of othergroups opposed to it. However, congressional contacts had told CUNAnot to expect even an attempt to move the bill until April.
The Electronic Payments Coalition, an organization which includesbanks, banking associations, a payment CUSO and two CUassociations, one of which is NAFCU, are opposing the bill. Donovansaid CUNA was also looking at whether or not to join the EPC.
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