Saying that the debit card swipe fees set by the Federal Reserve were neither reasonable nor proportional, the National Retail Federation and other groups have sued the agency.
A California credit union's concerns that Los Angeles retailers may be steering their members away from using their credit union-issued debit cards appeared unfounded last week.
California credit union says no more reports turn up, National Retail Federation doubts it, movie theater chain denies it.
Fourth quarter payment card interchange may be coming in stronger than year befrore, as well.
Los Angeles credit union said cards were rejected because of expiration dates and members told to offer 'big bank' cards.
Retail groups say Fed has failed to regulate swipe fees under intent of Dodd-Frank.
Credit unions looking to boost fee income with card interchange from holiday sales may not see as much holiday cheer as last year.
This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.
Months after their victory over banks and credit unions on the debit interchange issue retailers are gearing up to fight another battle.
The issue of revenue that banks and credit unions make from transactions on their debit cards moved from the obscure corners of the financial services industry into the national spotlight last week as the Federal Reserve's debit interchange cap came into effect.