The Senate Wednesday rejected by a vote of 85-12 an effort by Sen. Roger Marshall, R-Kan., to consider unrelated amendments, including the Big Box Bailout bill, to the Federal Aviation Administration (FAA) reauthorization.
America’s Credit Unions has led efforts to oppose the Credit Card Competition Act, arguing the legislation to extend interchange routing requirements to credit cards will hurt consumers, small businesses, and credit unions while big box retailers pad their pockets. America’s Credit Unions President/CEO Jim Nussle published a joint op-ed in American Banker this week to highlight the consequences; the organization has also shared research with lawmakers.
Sen. Dick Durbin, D-Ill. – cosponsor of the legislation – was among those who voted against the effort to consider it as an amendment. America’s Credit Unions will continue to engage lawmakers to prevent this bad policy from moving forward.
