Credit Unions & Community Banks in All 50 States Oppose the Durbin-Marshall Credit Card Bill
Local credit unions and community banks play an essential role in serving small businesses and hardworking families across the country. So when credit unions and community banks in all 50 states are opposed to the Durbin-Marshall credit card bill… Congress should pay attention.
If the Durbin-Marshall credit card 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 corporate mega-stores like Walmart and Target.
Congress should not believe the false claims from retail special interest 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 credit unions and community banks in all 50 states, commit to actively opposing the Durbin-Marshall credit card bill.
In total, this banking coalition represents nearly 5,000 community bank charters, across nearly 50,000 branches as well as more than 5,000 credit union charters with nearly 22,000 headquarters, branches, and other locations representing over 140 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):
Independent Community Bankers of America
America’s Credit Unions
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
BankIn Minnesota
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
Community Bankers Association of Ohio
Community Bankers Association of Oklahoma
Community Bankers of Washington
Community Bankers of West Virginia
Connecticut Bankers Association
Credit Union Association of New Mexico
Credit Union League of Connecticut
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 Colorado
Independent Community Bankers of South Dakota
Independent Community Bankers Association of New Mexico
Independent Community Banks of North Dakota
Independent Banks of South Carolina
Independent Bankers Association of New York State
Independent Bankers Association of Texas
Indiana Credit Union League
Indiana Bankers Association
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 Credit Union Association
Missouri Independent Bankers Association
Montana Bankers Association
Montana’s Credit Unions
Montana Independent Bankers
Nebraska Bankers Association
Nebraska Credit Union League and Affiliates
Nebraska Independent Community Bankers
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 Association of Community Bankers
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 Association of Community Banks
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