Two members of the Senate Banking Committee wrote Federal Reserve Chairman Ben Bernanke asking him to "create a workable small issuer exemption," in the debit interchange rule that the Fed is writing.
NCUA Chairman Debbie Matz today urged Federal Reserve Chairman Ben Bernanke to ensure that the Fed's rule limiting debit interchange fees contains "meaningful exemptions" for card issuers with assets of less than $10 billion.
Federal Reserve Governor Kevin Warsh informed President Obama today that he plans to resign as of March 31.
Saying the House didn't have the chance to fully consider the implications of interchange caps, House Financial Services Committee member Kenny Marchant (R-Texas) questioned Fed Chairman Ben Bernanke about the possibility of delaying the regulations.
With their new majority in the House, Republicans are vowing to keep a close eye on regulators, and the Federal Reserve's regulation of interchange could well be one of the lawmakers' top priorities.
House Financial Services Committee Chairman Barney Frank expressed concern to the Federal Reserve that regulations limiting interchange fees could increase the regulatory burden on credit unions and other small financial institutions.
A bipartisan group of 13 senators urged Federal Reserve Chairman Ben Bernanke in a letter sent yesterday to ensure that when the Fed issues regulations on debit interchange fees they don't hurt small financial institutions and consumers.
Presidential memoirs are a tricky genre.
The ongoing tangle that has become the foreclosure process in many parts of the country moved in two directions last week, each of which could impact credit unions.
LAS VEGAS -- The American Credit Union Mortgage Association wanted attendees at its 2010 annual conference to walk away with two convictions.