NDAA Passes Without Interchange Amendments
The Senate passed its FY24 National Defense Authorization Act (NDAA) Thursday night without the interchange amendment CUNA, Leagues, and credit unions fought to exclude. Sponsors of the big box interchange bill attempted to push the bill through as an NDAA amendment.
CUNA and Leagues issued an action alert last week calling on stakeholders to contact Senators to oppose attaching the bill to the NDAA, resulting in more than 25,000 messages of opposition sent within the week. More than 70,000 messages of opposition have been sent through CUNA’s Grassroots Action Center since the bill was introduced.
CUNA also released a study earlier this month showing that the Durbin Amendment’s debit card mandates brought many negative impacts, and the big box interchange bill would be even more costly for consumers and financial institutions.
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