EVERY Credit Union & Community Bank in America Opposes the Durbin-Marshall Interchange Bill

Local credit unions and community banks play an essential role in serving small businesses and hardworking families across the country. So when EVERY credit union and community bank in America is opposed to the Durbin-Marshall interchange bill… Congress should pay attention.

If the Durbin-Marshall interchange bill were enacted, it would force an overhaul of the payments landscape at significant systemic cost – a cost ultimately borne by consumers and the local financial institutions that serve them. Many credit unions and community banks would retreat from card issuance in response. The legislation is poorly conceived and would exclusively benefit the largest mega-retailers like Walmart and Target.

Congress should not believe the false claims from merchant and retailer groups that this bill protects small financial institutions. The same promises were made during the Durbin Amendment debate in 2010, yet small, “exempt” banks saw a quarter of their debit card revenue disappear and fraud costs increased after it became law.

Their message to Congress is simple: on behalf of EVERY credit union and community bank in America, commit to actively opposing the Durbin-Marshall interchange bill.

In total, this banking coalition represents nearly 4,800 community bank charters, across nearly 50,000 branches as well as more than 4,800 credit union charters with nearly 22,000 headquarters, branches, and other locations representing over 135 million Americans.

Copied below is a full list of all the banking organizations that have signed onto letters to Congress opposing the Durbin-Marshall interchange bill. (S. 1838):

American Bankers Association

Alabama Bankers Association

Alabama Credit Union Association

Alaska Bankers Association

Alaska Credit Union League

American Association of Credit Union Leagues

Arizona Bankers Association

Arkansas Bankers Association

Arkansas Community Bankers

Arkansas Credit Union Association

Association of Vermont Credit Unions

Bluegrass Community Bankers Association

California Bankers Association

California Community Banking Network

California Credit Union League

Carolinas Credit Union League – North Carolina

Carolinas Credit Union League – South Carolina

Colorado Bankers Association

Community Bankers Association of Georgia

Community Bankers Association of Illinois

Community Bankers Association of Kansas

Community Bankers of Iowa

Community Bankers of Michigan

Connecticut Bankers Association

Connecticut Bankers Association

Credit Union Association of New Mexico

Credit Union League of Connecticut

Credit Union National Association

CrossState Credit Union Association

Dakota Credit Union Association

Delaware Bankers Association

Delaware’s Credit Unions – Cooperative Credit Union Association

Florida Bankers Association

Florida Credit Union Association

Georgia Bankers Association

Georgia Credit Union Association

GoWest Credit Union Association – Arizona

GoWest Credit Union Association – Colorado

GoWest Credit Union Association – Idaho

GoWest Credit Union Association – Oregon

GoWest Credit Union Association – Washington

GoWest Credit Union Association – Wyoming

Hawaii Bankers Association

Hawaii Credit Union League

Idaho Bankers Association

Illinois Bankers Association

Illinois Credit Union System

Independent Community Bankers of America

Independent Community Bankers of Colorado

Indiana Bankers Association

Indiana Credit Union League

Iowa Bankers Association

Iowa Credit Union League

Kansas Bankers Association

Kansas Credit Union Association

Kentucky Bankers Association

Kentucky Credit Union League

Louisiana Bankers Association

Louisiana Credit Union League

Maine Bankers Association

Maine Credit Union League

Maryland and DC Credit Union Association

Maryland Bankers Association

Massachusetts Bankers Association

Massachusetts’ Credit Unions – Cooperative Credit Union Association

Michigan Bankers Association

Michigan Credit Union League

Minnesota Bankers Association

Minnesota Credit Union Network

Mississippi Bankers Association

Mississippi Credit Union Association

Missouri Bankers Association

Missouri Credit Union Association

Montana Bankers Association

Montana’s Credit Unions

Nebraska Bankers Association

Nebraska Credit Union League and Affiliates

Nevada Bankers Association

Nevada Credit Union League

New Hampshire Bankers Association

New Hampshire’s Credit Unions – Cooperative Credit Union Association

New Jersey Bankers Association

New Mexico Bankers Association

New York Bankers Association

New York Credit Union Association

North Carolina Bankers Association

North Dakota Bankers Association

Ohio Bankers League

Ohio Credit Union League

Oklahoma Bankers Association

Oklahoma Credit Union Association

Oregon Bankers Association

Pennsylvania Bankers Association

Puerto Rico Bankers Association

Rhode Island Bankers Association

Rhode Island’s Credit Unions – Cooperative Credit Union Association

South Carolina Bankers Association

South Dakota Bankers Association

Tennessee Bankers Association

Tennessee Credit Union League

Texas Bankers Association

Texas Credit Union Association

Utah Bankers Association

Utah’s Credit Unions

Vermont Bankers Association

Virginia Bankers Association

Virginia Credit Union League

Washington Bankers Association

West Virginia Bankers Association

West Virginia Credit Union League

Wisconsin Bankers Association

Wisconsin Credit Union League Wyoming Bankers Association