The Iowa Credit Union League and its counterpart the Iowa Bankers Association are running a joint op-ed this weekend in the Des Moines Register touting the consumer fallout should Congress enact the reg reform provision.
The industry's assault on the Durbin interchange amendment is taking advantage of social media vehicles as well as newfound collaboration with banker groups in trying to secure lawmaker support in the House-Senate conference committee.
Vermont might become the first state to enact a law regulating whether and how retailers pay card interchange fees.
Vermont Governor Jim Douglas has the power to make his small state the first in the country to pass a measure that could significantly impact the amount of card interchange earned from card transactions.
Perhaps reflecting their primary roles as savings institutions, four credit unions were among the top fifty receivers of payments through the Automated Clearing House system, according to the Electronic Payments Coalition.
With federal legislation on credit and debit card interchange appearing dead in the water this year,
A bill that has passed the state Senate in Vermont that would allow that state's merchants to begin setting minimum purchases for the use of credit and debit cards has drawn praise from retail groups and a lobbying push from the state's credit unions.
To forecast what lies ahead in 2010, one has to consider the enormous legislative and regulatory challenges of 2009.