A new white paper released by the Merchant Advisory Group revealed the Federal Reserve's debit interchange regulation has kept debt interchange rates high at the same time that costs to process debit transactions have been falling.
Earlier this year, the Credit Union National Association tried to tout a survey of its members to support the claim that credit unions have been hurt by debit swipe fee reform.
Majority whip, in speech Thursday, said credit union and small banks are "becoming part of big banking."
Allied Credit Union President/CEO Frank Michael will be one of seven people testifying at the Feb. 17 hearing on the Federal Reserve's proposed rule on interchange fees, the House Financial Services Committee announced today.
The Federal Reserve's proposed rule on interchange fees won't help merchants enough and will still help big banks keep high profits at their expense, the Merchants Payment Coalition wrote Congress.