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Truity Credit Union Blog > July 2023 > Impending Legislation and Your Financial Rights

Impending Legislation and Your Financial Rights

  • 7/26/2023

Our Valued Members,

As your credit union, we feel we are responsible for informing you about any potential legislation that may impact your financial safety and convenience. We pride ourselves in offering valuable services such as debit and credit card transactions, ensuring your transactions are secure and guaranteed. However, a concerning bill in Congress could potentially compromise your personal data and security.

This proposed legislation would allow retailers to select their preferred credit card transaction networks without any legal obligations to safeguard consumers from fraud. As a result, retailers may prioritize choosing a cheaper network over one that provides efficient security. This could leave your personal information at risk. The current interchange systems we offer for your credit card serve as a safety net that helps us protect you from breaches. Reducing interchange should only occur when merchants take full responsibility for such breaches.

We at Truity Credit Union need your help to prevent this bill from being attached to unrelated legislation. We want to ensure that your credit card transactions remain secure. Please take a moment to voice your opposition to S.1838, the Big Box Bailout, by contacting your federal lawmakers through the link below.

Take Action Now

Thank you for being an active participant in safeguarding your financial well-being and being our most valued member. Your support in opposing this detrimental bill can make a significant difference. Together, we can uphold a system that works for everyone, preserving the security and convenience you deserve.

Sincerely,

Aaron Beldner
President & CEO

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