An irate judge threw the Federal Reserve another curve ball during an Aug. 14 hearing when he gave the regulator until Aug. 21 to persuade the court why its 21-cent interchange debit cap should not end.
A U.S. District Court judge gutted the Federal Reserve’s debit card regulatory regime July 31, ruling the Fed rule disobeyed the law and ordering the regulator to rewrite it.
Federal judge throws out Durbin Amendment's 21-cent cap in emphatic ruling.
The upper chamber invoked cloture, which limits remaining debate to no more than eight hours, so the final vote is expected soon.
When the tiny Saguache County Credit Union, plagued by losses for several years, was finally liquidated last spring, its 3,185 members faced not having another financial institution in the area to serve them.
A three-judge federal appeals panel has ruled that credit unions do not have to pay their mortgage loan officers overtime – at least for now.
This preview from our July 10 print edition looks at credit union industry preparations to offer members insurance under Obamacare.
A credit union that shares leadership with the Illinois Credit Union League is issuing a credit card that consumer advocates have condemned as a consumer unfriendly, “fee-harvesting” card.
Wells Fargo, Bank of America, Citigroup among those accused of notification failures, sending inaccurate information.
Cards issued have APRs of 29.99%.