Overturning a proposed debit interchange cap on legal grounds may set a precedent against exempting credit unions from future regulations that affect large banks and other financial institutions.
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.
Members of Chantilly, Va.-based Justice Federal Credit Union recently raised $17,962.50 for the National Center for Missing and Exploited Children through the credit union's Skip-a-Pay loan program.
In March 2011 the Americans with Disabilities Act will require ATMs to offer voice-guided features making them easier to use for people who are blind.
The Justice Department said Tuesday it won't appeal a federal court's decision that Bellco Credit Union doesn't have to pay unrelated business income tax on income from credit insurance or royalties from accidental death and dismemberment insurance.
The U.S. Justice Department announced last week that a long-running antitrust investigation against the three largest card brands has ended in a settlement with two of the three and litigation against the third.
The U.S. Justice Department announced today that it has filed an antitrust case against the three major card brands but that Visa and MasterCard have already settled with the government.
The court extended the deadline for further written arguments between the organizers and volunteers of the at least partially liquidated Kappa Alpha Psi Federal Credit Union and the NCUA.
Kappa Alpha Psi Federal Credit Union, a predominantly African-American community development credit union headquartered in Addison, Texas, is fighting an NCUA liquidation order in court.
Saying he wants a system where financial services institutions "compete on price and quality, not on tricks and not on traps,"