CUNA, AACUL, Leagues Oppose Any Expansion of Durbin Amendment

Expansion of the Durbin Amendment to the credit market will lead to less spending power for consumers, CUNA, the American Association of Credit Union Leagues, and all credit union Leagues wrote to the Senate Judiciary Committee Tuesday. The committee is conducting a hearing Wednesday on interchange fees.

The Durbin Amendment caps debit card interchange fees and imposes routing requirements on networks. Proposals have been put forth to expand these regulations to credit cards, which credit unions strongly oppose.

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