Over the past week or so, the word “billion” has come up several times in industry talk on member business lending. The first billion–make that nearly $12 billion–is the record number of member business loans that credit unions funded in 2011, setting a new record high based on fourth-quarter data from...
Community banks and credit unions have little faith that merchants won’t discriminate against debit cards from small issuers, they said in a letter to lawmakers yesterday.
CUNA chief asks for two-year delay on exclusivity arrangements, routing restrictions.
Credit unions and other opponents of the Federal Reserve’s proposed rule capping debit interchange fees received good news last week when bills to delay the rule’s implementation were introduced in the Senate and House.
The Federal Reserve’s proposed rule regulating interchange is unconstitutional and would do “irreparable harm to issuers and consumers.’’
CUNA, NAFCU and several bank groups are asking a federal judge if they can file a friend-of-the-court brief on behalf of a bank that is challenging the constitutionality of the law, giving the Federal Reserve the power to regulate interchange.