Community Banker Alert

As announced earlier this week, Senator Specter is planning to introduce legislation that will be very harmful to community bank debit and credit card programs, and would be very beneficial to large retailers and chains like Sheetz. This legislation would remove important consumer and competitive safeguards, and threaten the ability of community banks to offer credit and debit card products.

PACB and ICBA will continue to monitor the status of Senator Specter's actions, and are in communication with other sectors of the financial services industry to stop this legislation before it even starts. We urge you to immediately contact the Senator’s office to ensure that he knows that community bankers object to what he is proposing. You can access a letter through the following link: Tell Sen. Specter to Stop interchange legislation!