Archive

Go to:

August 2017
SMTWTFS
12345
6789101112
13141516171819
20212223242526
2728293031
< Jul Sep >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Cornerstone Calls Credit Unions to Action on Financial CHOICE Act
Thursday, May 18, 2017 7:00 AM

Several days ago Cornerstone asked credit unions to contact their congressional representatives to support repeal of the harmful Durbin amendment on interchange found in the CHOICE Act. Now, with a vote on the CHOICE Act anticipated as early as next week, it's essential that credit union CEOs, staff, and directors make their voices heard on this critical issue by sending a message today

The CHOICE Act, which recently passed out of the House Financial Services Committee, included a provision that repeals the Durbin debit interchange amendment. The Cornerstone Credit Union League supports this repeal because of the harm the Durbin amendment has caused credit unions and their members. 

The Durbin amendment was a last-minute addition to the Dodd-Frank Act in 2010. This provision has cost credit unions and their members over $1 billion since it was put in place. Though the retailers promised to lower prices in return for lower interchange fees, they have instead largely used these government-mandated price controls to pocket nearly $42 billion. 

As the CHOICE Act now moves to the House floor, we need you to reach out to your member of Congress in support of keeping the repeal of the Durbin amendment as part of the CHOICE Act. A vote is anticipated as early as next week, and retailers are continuing to hit congressional offices with a lot of grassroots in opposition to the Durbin repeal.    

Click below to tell your representative that the Durbin amendment repeal should remain in the CHOICE Act.

Action Needed
Credit unions CEOs, staff, and directors: Send an email to your congressional representative today to tell them that the Durbin amendment repeal should remain in the CHOICE Act. 

Click here to Take Action Now

If you have any questions, please contact Chief Advocacy Officer Jim Phelps at 469-385-6481 or jphelps@cornerstoneleague.coop.