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.
Now that regulations implementing the Durbin amendment are finalized–at least for the short term–credit unions have to decide how many debit networks they want and if they have to join any.
Programs that reward consumers when they use their debit cards have been largely considered one of the important casualties of the Durbin amendment's cap on debit interchange.