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."
A CUNA survey of some of its member credit unions suggests credit unions with less than $10 billion in assets have begun to take a hit to their debit card interchange even though they were not supposed to feel the impact of a debit interchange cap.
Merchant Payments Coalition cites CUNA survey, says smaller-asset institutions shielded from interchange cap.
The Electronic Payments Coalition expects both sides of a proposed settlement on card interchange will file definitive settlement agreement on Friday.
The question of whether or not the Federal Reserve went far enough or too far in capping debit card interchange in accord with the Durbin amendment went before a U.S. District Court Judge recently.