GoWest Advocates Share Data Debunking the Credit Card Competition Act with Congress
Posted by Ryan Fitzgerald on September 1, 2023
Throughout the August Congressional recess, GoWest Credit Union Association and its member credit union advocates have been meeting with Senators and Congressional representatives in their home districts, leveraging the opportunity to share the actual facts about how the Credit Card Competition Act will be harmful to their constituents.
Two key resources in our toolbox are a comprehensive analysis by the consultancy Cornerstone Advisors documenting the harmful effects of the CCCA’s predecessor legislation, the Durbin Amendment, and GoWest’s high-level infographic showcasing Cornerstone Advisors’ rich data.
As we advocate collaboratively to pull out all the stops to defeat S.1838/H.R. 3881, we know it’s critically important to provide as much real data as possible showing the legislation is misguided. In our meetings, we have received very positive feedback on Cornerstone’s excellent analysis, and some Members of Congress have also asked for a brief overview to aid in their discussions before they take a deeper dive into the full report.
If you’re meeting with your federal elected officials in the near future, we encourage you to download the infographic and share it in your conversations. Customize it with your credit union’s examples of the value you provide, such as fraud protection and rewards programs.