Interchange income at risk
Pending legislation, the Credit Card Competition Act of 2023, would not only reduce credit unions\u2019 interchange income, it would threaten consumer data security, privacy, and access to credit. The bill could also harm credit unions\u2019 ability to give back to their communities. Sharing their insights are Jason Stverak, CUNA\u2019s deputy chief advocacy officer; Mike Lee, president/CEO at KCT Credit Union in Elgin, Ill.; Richard Gose, CUNA\u2019s chief political officer; and Keith Sias, senior vice presiden...