Call to Action: Regulation E Legislation Will Negatively Impact Credit Unions

House and Senate legislation was recently introduced to amend the Electronic Fund Transfer Act (EFTA). The legislation, H.R. 903/S. 4943, would have a huge financial impact on credit unions by shifting losses of fraudulent acts, undelivered merchandise, or incorrect wiring information to credit unions and other financial institutions. As credit unions know, they already bear the brunt of data breaches and consumer fraud protection.

Congress needs to hear how severely this could impact your credit union. CrossState urges you to visit the Grassroots Action Center today to contact your member of Congress and ask them to oppose the legislation.