Retail group points to $18 million in savings each day.
Merchants Payments Coalition report says interchange rates not to blame for bank fee boosts.
Reaction to settlement of longstanding credit card anti-trust suit.
Retail associations are celebrating what they are calling a year since their legislative victory in the battle over the Durbin amendment by asserting that none of amendment opponents' dire predictions have come true.
Merchant Payments Coalition says credit unions, community banks have benefited.
Illinois senator files brief in case seeking to force Fed to cut interchange costs further.
Fed says most credit unions didn’t experience a drop in interchange income immediately after the Durbin Amendment went into effect last fall.
Rather than pass debit interchange savings from the Durbin Amendment on to consumers, gasoline retailers are pocketing the difference, the Electronic Payments Coalition says.
Credit unions have argued before U.S. District Judge Richard Leon in defense of the Federal Reserve's existing Durbin amendment regulation.
When Kyle Markland was hired at Affinity Plus Federal Credit Union at the age of 33, he admits that the board took a chance on bringing in someone so young to lead what was then a $357 million cooperative.