HELP KEEP CREDIT AND DEBIT CARDS FREE OF ANNUAL FEES!
You don't want to pay fees and we don't want to charge them, so help protect your no-annual-fee credit and debit cards. A Senate-passed amendment to the Regulatory Reform Bill threatens your bank or credit union's ability to offer low cost cards and may lead to annual or other fees.
How you can help: Email your legislators and ask that the interchange language be removed from the Regulatory Reform Bill.
To make it easy, the Credit Union National Association (CUNA) has provided a call to action wizard that helps you easily send a message to your federal legislators.
Why are ALL no-annual-fee debit and credit cards at risk from this amendment?
It's not just your credit union credit and debit cards that are at risk of fee increases. It's any card. When you use your debit or credit card at a store, that merchant is charged a small fee (usually 1% - 3% of your purchase) to provide you with the ability to use your card. One third of that fee goes to your financial institution to help keep your card free of annual fees and pay for the cost of issuing the card.
If the bill passes with the interchange amendment included, it would severely reduce or eliminate the interchange fees that banks and credit unions use to help keep your cards annual-fee-free. If this happens, there will likely not be enough income that banks and credit unions use to help provide these cards.
Please help get this amendment removed. Send a message to your federal legislators today.
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