In a move seemingly aimed at creating a payments CUSO large enough to compete with PSCU Financial Services, CO-OP Financial Services and the The Members Group have announced a cooperative marketing and product development partnership.
Big CUSO to invest in Iowa-based organization, jointly develop "portfolio of payment services."
Iowa P2P startup goes with Maryland CUSO for infrastructure hosting.
The Federal Reserve's most recent update of its rule implementing the Durbin amendment makes it a bit better for most CUs but leaves most of their deep concerns about the measure untouched.
Backers of congressional efforts to delay implementation of the Federal Reserve’s rule regulating interchange were buoyed when Federal Reserve Chairman Ben Bernanke said the agency wouldn’t be able to release the rule by the April 21 deadline.
PayPal's commanding presence in the P2P space is hard to compete with, so maybe joining them would be a better strategy for credit unions.
Opponents of the Durbin amendment's cap on debit card interchange may find repealing the legislation an easier battle than fixing it.