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.
Even a small fee on debit cards will lead consumers to abandon them in favor of other payment methods, including cash, checks and even credit cards, according to a recent survey.
Credit unions considering their options in the face of a debit interchange decline might evaluate Kelly King's recent comments
The Federal Reserve's most recent update of its rule implementing the Durbin amendment makes it a bit better for most CUs but leaves most of their deep concerns about the measure untouched.
AP survey shows consumers would abandon debit cards and turn to cash, check or credit if fees imposed.
President Kennedy famously said after the Bay of Pigs debacle that “victory has a thousand fathers; defeat is an orphan.”
NAFCU's Becker says Fed rule capping debit interchange will cost jobs at "Main Street financial institutions."