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.
Card fight promises to go another round.
The multiple-party, multiple-year case over credit card interchange moved one step closer to resolution on Nov. 9 when the Honorable Judge John Gleeson granted preliminary approval of the settlement agreement between retailers, payment networks and nine major card issuers.
Decision can still be appealed and National Retail Federation said it's considering that route.
Both sides of testy dispute issue statements ahead of New York hearing.
National ATM Council trade group objects that it's included in proposed settlement while it has its own case ongoing against card brands.
Two trade associations of retailers have filed briefs asking a judge to reject the proposed settlement of that suit.
New York federal judge sets Nov. 9 as hearing date for arguments for and against proposed card interchange settlement.
The Electronic Payments Coalition expects both sides of a proposed settlement on card interchange will file definitive settlement agreement on Friday.