Earlier this year, the Credit Union National Association tried to tout a survey of its members to support the claim that credit unions have been hurt by debit swipe fee reform.
There is just one problem. It's not true.
Since the Durbin Amendment was implemented on Oct. 1, 2011, three independent federal agencies—the Government Accountability Office, the Kansas City Federal Reserve, and the Federal Trade Commission—have found that banks exempt from new debit swipe fee rules, including all but three credit unions, have not been negatively affected.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
