Important Message from President & CEO Michael R. Sordelli
I am writing to you today to update you and ask for your action on the Debit Interchange Fee Study Act (S.575).
What is the Issue and How Does This Affect Me?
At a recent Congressional hearing, Members of Congress noted that the Restoring American Financial Stability Act (S.3217), the ruling that the U.S. Senate passed in May 2010, would need more study. The Senate and House introduced the Debit Interchange Fee Study Act (S.575) and Consumers Payment System Protection Act (H.R. 1081), bills which would delay implementation of the Federal Reserve’s debit interchange rule and study its implications to consumers before proceeding.
The action we are asking from you today is to urge your representative to help pass the S. 575/H.R. 1081 - The Debit Interchange Fee Study Act.
The interchange income they are studying is used by the credit union to support the competitive rates, ATM rebate program and services we provide back to you. Additionally, it helps us to be able to offer you no annual or monthly fees, no balance transfer fees, no cash advance fees, competitive rates, and more on your credit card.
How You Can Help
Please join us in sending a message to your elected officials urging them to support the S. 575/H.R. 1081 - The Debit Interchange Fee Study Act which would delay the passing of S.3217.
You can send a pre-written personalized letter to your government representatives at the Connect for the Cause website. Connect for the Cause is an advocacy network that allows you to inform elected officials about credit union issues. Look for the ‘S. 575/H.R. 1081 - The Debit Interchange Fee Study Act and select ‘Take Action’.
I encourage you to take this important step to ensure that SF Police Credit Union and others in the credit union movement remain a valued source for its members. Thank you for supporting the credit union and the future of all our members.
Sign up Today & Take Action
Michael R. Sordelli,
President & CEO