Fed said data it collected show all networks provided a higher average interchange fee to exempt issuers than non-exempt issuers in 2012.
The retail group, which had not been part of the original litigation, had been criticizing the settlement for months.
Just when it might become more important than ever to be able to track the interchange that debit transactions generate for credit unions, many, if not most, may have not begun to uncover their debit programs’ bottom lines.
Durbin Amendment proponents, opponents hail, assail this week's announcement by Fed.
WASHINGTON – Rep. Spencer Bachus (R-Ala.) had good news for credit unions during his speech Tuesday morning at CUNA’s GAC.
National Grocers Association was one of original litigants in the anti-trust case and now rejects the preliminary settlement.
CUNA says data shows $1.38 million loss for 155 credit unions in that quarter alone in data trade studied.
U.S. Public Interest Research Group director downplays potential consumer impact; sides with merchants in surcharge snit.
Federal appeals court again rebuffs efforts to oppose interchange settlement until settlement is finalized.
Trade writes letter to commission, arguing its report is based on "selective information."