Electronic Payments Coalition |
Defense Credit Union Council Joins Financial Services Coalition In Sending Joint Letter to House Leaders Opposing Harmful Credit Card Routing Legislation
WASHINGTON, DC – Today, the Defense Credit Union Council joined ten other trade associations representing the entire financial services industry including the American Bankers Association, Association of Military Banks of America, Bank Policy Institute, Consumer Bankers Association, Credit Union National Association, Electronic Payments Coalition, Independent Community Bankers of America, Mid-Sized Bank Coalition of America, National Association of Federally-Insured Credit Unions, and National Bankers Association in sending a joint letter to House leaders opposing legislation (H.R. 3881) by Representatives Lance Gooden (R-TX) and Zoe Lofgren (D-CA) creating new credit card routing mandates that would eliminate funding for popular credit card rewards programs, weaken cybersecurity protections, and reduce access to credit for those who need it the most. The full letter to House leadership is copied below.