Interchange Legislation Introduced in Congress

For the past several months, credit unions have been anticipating the introduction of federal legislation that would change the current credit card interchange system. On Wednesday, Senator Dick Durbin (D-IL) introduced the Credit Card Competition Act (CCCA) of 2023—a bill which is substantively identical to the CCCA of 2022.

The League joins CUNA and credit unions across the country in strong opposition to this legislation. Interchange fees help cover the investment in protecting consumer data and ensure consumers have safe, reliable transactions. The current system is not broken, but big box retailers are lobbying Congress for changes to help grow their bottom lines.

America’s Credit Unions have launched Interchange Works: Protect My Card—a website containing facts about the interchange system and the important protections it provides. CUNA also has an action center to make it easy for credit unions to express their opposition of changes to the interchange system with their congressional representatives.

“Our League has already briefed our delegation on this issue and will continue our outreach to them in the weeks ahead to ensure they understand the detrimental impact legislation like this will cause to data security,” shared Krista Simonis, League Director of Governmental Affairs. “We know how important interchange is to our credit unions and we will ensure their voices continue to be heard on Capitol Hill.”

The League will keep credit unions apprised as this bill works its way through the legislative process. In the meantime, if your credit union knows a merchant/small business owner that is willing to publicly weigh in on this issue via an op-ed or letter to the editor, please email Simonis at