Each time you use your debit or credit card, a merchant is paid immediately and the credit union that issues your card receives “interchange” through the card payment system. This interchange reflects a merchant's fair share of the costs of this convenient and beneficial payment system. At your credit union, interchange supports everything from re-issuing cards compromised by merchant data breaches to providing a call center to contact if your card is lost or stolen. The United States Senate is debating S. 3217, the Restoring American Financial Stability Act and has adopted an amendment which will make changes to the card payment system.
Learn more and take action to help your credit union by visiting www.ConnectfortheCause.com
*Excerpt from ConnectfortheCause.com
Posted on
Friday, June 18, 2010
by Nathan Rogers