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Credit Union Journal, The, June, 2008

Banks, CUs Are Lobbying On Interchange Fees

WASHINGTON–Members of Congress and White House officials may have been taken aback last week when representatives of CUs and banks came to jointly lobby them against a proposed bill regarding card interchange fees.

CU and bank officials from the Capital region, as well as lobbyists for MasterCard and Visa, are among the 30 representatives that were scheduled to meet with leaders in the House and Senate and at the White House late last week, according to John Magill, chief lobbyist for CUNA.

CUNA and NAFCU have joined bankers and credit card companies in an Electronic Payments Coalition that is fighting bills to allow large retailers to negotiate their own fees with the card companies.

The stakes are...

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