Both sides of testy dispute issue statements ahead of New York hearing.
Illinois senator files brief in case seeking to force Fed to cut interchange costs further.
Credit unions will need to continue to seek out and provide a full – and expanding – range of services if they wish to position themselves as their members’ payment provider of choice in 2012.
Now that regulations implementing the Durbin amendment are finalized–at least for the short term–credit unions have to decide how many debit networks they want and if they have to join any.
Analysts, payment executives advise limiting debit network participation in order to protect their debit interchange income.
WASHINGTON — If nothing else, card-issuing credit unions should feel assured that an awful lot of intelligent people go to work every single day with no higher priority than helping to keep their card data secure.
WASHINGTON — Despite news of the massive Sony PlayStation breach, a Visa executive says progress is being made in overall data security.
Craig Esrael, chairman of the board of PSCU Financial Services, said a succession plan made years before had helped lead the giant payments CUSO to choose a relatively little known payment executive as its next CEO.
Comment letters, congressional testimony and in-person visits with lawmakers in Washington are key components of a concerted strategy to kill, delay implementation of or at the least modify the Federal Reserve’s proposed rule on debit interchange fees.
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.