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.
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.
Under interchange settlement, merchants can no charge for surcharges, but doubts remain if that will happen.
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.