This year saw a regulation capping the interchange card issuers were able to earn on a debit card transaction come into effect for the first time in history.
Electronic Payments Coalition secret shoppers say prices went up after Oct. 1 debit cap kicked in.
Saying that the debit card swipe fees set by the Federal Reserve were neither reasonable nor proportional, the National Retail Federation and other groups have sued the agency.
Retail groups say Fed has failed to regulate swipe fees under intent of Dodd-Frank.
Illinois senator sends letter to his state's CUs and bankers citing competitive advantage now presented to them.
It’s an arcane subject that is of concern mainly to financial institutions and retailers and one that rarely generates headlines. Last year, however, everything changed.
Michigan CUL issues localized press releases touting CU difference in Wolverine State.
Now that the deadline for the Durbin amendment interchange cap to take effect has passed, financial institutions are continuing to develop ways to offset lost interchange revenue. One solution? Raise fee income by making debit and ATM transactions more expensive for consumers.
Bank giant's move may create openings for smaller institutions.
Becker letter asks for more for fraud prevention costs as Oct. 1 approaches.