Thursday, March 17, 2011 11:30:00 AM
WASHINGTON - Legislation that would delay the effective date of a Dodd-Frank Act interchange rule to allow for more time to study its potential impact was introduced in both houses of Congress Wednesday. Yesterday, five lawmakers added their names as cosponsors, including New Jersey Congressman Albio Sires (D-13th).
"Interchange was the top priority when we met with lawmakers during the Hike-the-Hill just two weeks ago," said NJCUL President/CEO Paul Gentile. "Congressman Sires adding his name as a cosponsor is a direct result of our meeting with him and illustrates the importance and value of our active grassroots advocacy program," he continued.
"Now that actual bills have been introduced, we will continue our efforts to secure additional cosponsors and supporters among New Jersey's delegation, for both the interchange delay and MBL reform," he said.
Nationwide Calls-to-Action are underway on both interchange and MBL reform. New Jersey credit union professionals, volunteers, and members are encouraged to visit the NJCUL's Online Grassroots Action Center at http://www.capwiz.com/cuna/nj/home where they can quickly e-mail their lawmakers on these two important issues.