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Member Business Lending

It's time to RESTORE the member business lending power of credit unions. Call your Senator TODAY!

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 "But the amendment, slipped into the bill in the dead of night with no hearing and no opportunity for anybody to comment on it, would shift the payment of the interchange fees from the merchant to the bank, and Worthington says, the merchants have not agreed to pass along their substantial savings to their customers."
    WOAI - Watch out - FEES for your Debit card may be looming

But one thing is clear: This isn't the place to take up the issue. Financial reform was designed to address the egregious practices of banks that contributed to the financial crisis. Swipe fees weren't part of that problem.

Houston Chronicle - Congress taking a swipe at small banks

The Motley Fool.com:
VISA/MasterCard Loss Won't Be Your Gain

The Atlantic.com:
"Why Are Some States Against Debit Card Fee Limits?"

Washington Times Op-Ed:
"Interchange Regulations Are Aimed at Your Wallet"

"“James Boyd, president of the Abilene Teachers Federal Credit Union, said the credit union uses interchange fees to cover the expense of fraudulent purchases made with lost or stolen cards. And, without those fees, Boyd said his credit union would be forced to reassess whether or not it could afford to offer debit and credit cards to consumers.”

Abilene Reporter News
(“Credit or debit makes a difference to retailers,” January 6, 2010)