Repeal Durbin Amendment and put consumers over profits
League op-ed emphasizes need for repeal of Durbin Amendment

January 30, 2017 

INDIANAPOLIS -- An opinion piece from Indiana League President John McKenzie appeared today in Inside Edge, published by Inside Indiana Business, a statewide online publication distributed to approximately 45,000 business leaders and legislators throughout Indiana and beyond. It centers on the negative impact of the Durbin Amendment, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
 
The piece, which was also sent to Financial Services Committee Member Luke Messer (IN-6), explains credit unions’ not-for-profit structure emphasizing that, “all of our decisions come from a place of supporting our members, not adding to our bottom line.” McKenzie tells readers that “Credit unions and other small institutions who already have a higher cost structure due to our size, have to bear a larger share of the costs of running a significantly less profitable system…This only ends up hurting our members, who make up nearly one-third of our state’s residents.”