Year 2013 ended with the Federal Reserve’s debit interchange rules still unresolved.
Kansas City economist says debit cap increases access to no-fee accounts, especially in competitive markets.
The case deciding whether credit unions will have to reissue their debit cards inched closer to a conclusion Nov. 20.
The ongoing fight over federal debit interchange regulations entered its newest round Oct. 21 as the Federal Reserve filed its appeal that seeks to reverse a July 31 District Court decision overturning its current rule.
Trades join bank associations in filing, say that original rule was bad and made worse by July court ruling.
Federal Reserve files appeal of July 31 federal court ruling that struck down much of interchange rule.
The debit card interchange cap will cost the $11.5 billion BECU between $35 and $45 million in 2014.
Electronic Payments Coalition report counters debit interchange savings found in retailers report issued earlier Tuesday.
The Federal Reserve may appeal U.S. District Court Judge Richard Leon’s interchange debit decision by arguing the judge gave undue weight to opinions of Senator Richard Durbin (D-Ill.) when evaluating the regulation.
When will it end?