Extensive research reports on interchange legislation

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Interchange remains a big area of concern for credit unions. Sens. Durbin and Marshall are pushing hard for an interchange hearing and looking for vehicles on which to attach their Big Box Bailout bill, and they have garnered several more cosponsors, including Sen. Josh Hawley (R-Mo.).

The Federal Reserve also has a debit interchange proposal to make changes to the fee cap (Reg II), which would have significant negative impact. At the state level, Cornerstone League is monitoring interchange efforts closely so we’re ready for anything.

For your priority reading list, Cornerstone Advisors offers three extensive research reports detailing the problems with interchange legislation:  

• Future Harm from New Credit Card Regulations
• The Harmful Impacts of Removing Sales Tax from Interchange Calculations
• The True Impact of Interchange Regulation

We will need to be well-prepared for the fight ahead. Please visit our Interchange Works page for information and resources to help you understand the scope of the harm the Credit Card Competition Act would cause and what you can do about it.