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.
Illinois senator sends letter to his state's CUs and bankers citing competitive advantage now presented to them.
PayPal gave merchants and others a peak at the new payments technology that, it said, will allow it to overcome the dominance of Visa and MasterCard at the point of sale.
New debit cap "is going to create a train wreck that will affect every consumer with a debit card," says CUNA President/CEO Bill Cheney.
Several sources tell Credit Union Times that Sen. Jon Tester (D-Mont.) will offer amendment during debate of a funding bill.