The Senate Judiciary Committee will conduct a hearing on the Big Box Bailout bill Nov. 19, and credit unions are proactively reaching out to committee members to reiterate strong opposition. The bill—introduced by committee chair Sen. Dick Durbin, D-Ill.—would extend debit interchange routing requirements to cover credit cards. 

America’s Credit Unions, Leagues, and credit unions strongly oppose the bill, as it would disrupt the payments ecosystem that currently works for card issuers, small businesses, and consumers. 

An action alert has been issued for credit union advocates to contact their senators on the Senate Judiciary Committee with data on how the legislation would harm consumers, small businesses, and community financial institutions while benefiting the biggest retailers.