payment networks

• CUNA Slams Fed Debit Interchange Proposal

  By Claude R. Marx  |  February 23, 2011

  CUNA says the Fed's proposed interchange rule would have adverse effects for credit unions and that it should work with Congress to delay implementation by two years to further study the issue.

• CUNA Lays Out Concerns About Fed's Proposed Interchange Rule

  By Claude R. Marx  |  February 23, 2011

  CUNA says the Fed's proposed interchange rule would have adverse effects for credit unions and that it should work with Congress to delay implementation by two years to further study the issue.

• CUNA Witness Attacks Debit Exemption as Meaningless

  By David Morrison  |  February 17, 2011

  A credit union executive testifying on behalf of CUNA before the House Financial Services Committee charged that the exemption meant to protect small asset debit card issuers from an interchange cap was essentially "meaningless."

• Visa to Support Dual Debit Interchange Schedule

  By David Morrison  |  January 19, 2011

  Visa will offer a dual debit interchange schedule that network sources say should allow credit unions and other smaller asset

• Interchange Cap Opponents May Find Durbin Amendment Difficult to Fix

  By David Morrison  |  January 12, 2011

  Opponents of the Durbin amendment's cap on debit card interchange may find repealing the legislation an easier battle than fixing it.

• Visa Will Support Dual Interchange Schedule

  By David Morrison  |  January 7, 2011

  Visa will offer a dual debit interchange schedule that network sources say should substantially shield their debit interchange income from drastic decreases, at least temporarily.

• Durbin Amendment Likely to Hit Payments Systems

  By David Morrison  |  December 22, 2010

  The year 2010 will be remembered as when the federal government got involved in how much interchange banks and credit unions earn on their debit card transactions.

• First Data Silent on Dual Interchange Schedules

  By David Morrison  |  December 17, 2010

  First Data's initial statement on the Federal Reserve's proposed debit interchange rule did not mention establishing a debit interchange schedule for small debit card issuers.

• Federal Reserve Interchange Rule Could Result in Drastic Cuts For CU Income

  By David Morrison  |  December 16, 2010

  The impact of the Federal Reserve's proposed rule on debit interchange could be a "drastic" cut to CU debit card income, according to CUNA CEO Bill Cheney.

• Fed Staff Reaffirms Interchange Cap Will Be Bad for CUs

  By David Morrison  |  December 16, 2010

  Contrary to the assurances of Illinois Senator Richard Durbin (D), the interchange cap which flows from the amendment that bears his name will reduce credit union income from debit card interchange.