Organizations blast credit union trade groups for misleading the media and Congress.
A new Aité Group report says cash is more expensive for retailers than cards. Retailer groups disagree.
Data collected by CUNA and the Consumer Bankers Association covers only the cost of card replacement.
Credit union trade associations turn down an offer to join bankers and retailers in a pledge to collaborate on data security.
Merchants and card issuers released separate studies Oct. 1 that made contradictory claims regarding the effect the Durbin Amendment’s interchange cap has had on consumers. The groups timed their releases to coincide with the two-year anniversary of cap’s effective date.
Hearing on Wednesday to focus on how Fed would replace interchange cap and network rules.
Angry Judge Richard Leon tells Fed its attorneys can "came come off vacation" and raises specter of damages from overcharges.
Card fight promises to go another round.
The Electronic Payments Coalition expects both sides of a proposed settlement on card interchange will file definitive settlement agreement on Friday.
Interchange settlement now opposed by Retail Industry Leaders Association, which includes Walmrt, Apple, Pepboys and Abercrombie & Fitch, among others.