Payment software executive notes that regulators around the world have generally had to tinker with debit regulations.
Credit unions got a bit of good news when the Federal Reserve reversed itself and announced that debit interchange fees will be capped at 21 cents a transaction, up from the original proposal of 12 cents, with a 1 cent fee for fraud prevention and a five basis point allowance...
This article about the Fed's move on the interchange cap is just one of the articles that will appear in the next print edition of Credit Union Times.
CUNA’s Cheney reaches out to members of bank/CU panels set up by Fed last year, asking them to reach out to Fed Board.
NAFCU's Becker says Fed rule capping debit interchange will cost jobs at "Main Street financial institutions."
Might this time finally be the charm for member business lending? After years of lobbying and cajoling, credit unions will finally get their wish on June 16 when the Senate Banking Committee holds a hearing on Sen. Mark Udall’s (D-Colo.) legislation to raise the cap on member business loans.
Credit unions are hoping for relief from the courts and an improved rule from the Federal Reserve following the Senate defeat of an amendment that would have delayed the Federal Reserve’s rule regulating debit interchange fees by up to a year.
Trade says Fed has authority to limit financial impact on debit card-issuing credit unions.
CUNA presses Fed to include most costs in debit cap calculations on an ongoing basis.
The Federal Reserve’s rule regulating debit interchange fees could be delayed by at least six months if lawmakers approve a compromise proposal being discussed by several key senators.