Credit union trade associations turn down an offer to join bankers and retailers in a pledge to collaborate on data security.
U.S. financial data is low-hanging fruit for thieves, experts say.
U.S. card data is low-hanging fruit for data thieves.
CUNA, NAFCU and bank trade associations fire off a letter to leaders on Capitol Hill countering what they say are false retailer claims about data breaches.
A three-judge panel may wind up preserving the Fed's debit interchange regulation, which a lower court invalidated last year.
Counsel to retail plaintiffs explains that the Durbin Amendment precludes Fed from including fraud costs in the debit interchange cap.
For years, banks have issued fraud-prone mag stripe cards, putting information at risk, the letter from the National Retail Federation said.
The National Retail Federation has filed its expected appeal of the court decision that locked in a settlement of long-standing retailer complaints about credit card interchange.
Electronics Payment Coalition counters NRF and other appealing firms don't represent most retailers.
Appeals may delay final implementation while credit union trade groups watch for fee, other impacts.