NCUA chair tells Fed in letter that costs in proposed rule exceed maximum allowed.
To prepare for possible action in Congress on delaying the Federal Reserve’s interchange rule, credit unions redoubled their grassroots efforts on the issue during the recent recess.
Easter Break over, lobbying resumes to delay or halt the new cap on interchange fees.
Illinois senator asks ABA to back off from "massive lobbying effort."
TCF National Bank, a major issuer of debit cards, has gone to a higher court to try again on blocking new cap.
CUNA and NAFCU are asking the Fed for more time and some changes in upcoming rules on pricing disclosures.
Compliance burdens are piling up, CUNA notes in request to Fed to delay June 16 imposition of new rules.
A former credit union executive turned banker says she welcomes CU reps on a Fed panel she heads, but opposes CU tax exemption.
Montana Democrat says CUs, community banks and small businesses would be hurt if new Fed rules take effect.
The trade group sends letter to the Fed questioning clarity, necessity or proposed language in following new rule.