Defense Credit Union Council (DCUC) supports Senator Ted Budd’s (R-NC) proposed “Secure Payments Act of 2024”
Study on impact of regulation II, debit card interchange fee rule
WASHINGTON, DC (June 18, 2024) — The Defense Credit Union Council (DCUC) provides its support of Senator Ted Budd’s (R-NC) proposed legislation, “Secure Payments Act of 2024,” requiring the Board of Governors of the Federal Reserve System to study the impacts of the proposed rule on debit card interchange fees and routing, and for other purposes.
“It’s important that credit unions are provided with accessible financial resources, especially in underserved communities nationwide. Recent months have highlighted how limitations on debit interchange fees impact these resources, and consequentially, consumers’ financial security,” said Jason Stverak, DCUC Chief Advocacy Officer. “DCUC fully supports Senator Budd’s call for a study of the interchange fee cap because of these reasons.”
About Defense Credit Union Council (DCUC)
The Defense Credit Union Council is the trusted resource for credit unions on all military and veteran matters. By maintaining a close and constant liaison with the Pentagon, Capitol Hill, and NCUA, the Council champions the interests of credit unions serving our military and veteran communities by coordinating policy, procedures, and legislation impacting morale and welfare, financial readiness, and the delivery of quality financial products and services. Organized in 1963, the Council’s membership is comprised of more than 180 credit unions with over 37 million members. If you would like more information about this topic, please contact DCUC at alert@dcuc.org.
