This opinion piece looks at the need to protect payments innovation from cyberthreats.
CEO Adams said the Durbin Amendment sent billions in interchange to retailers, but financial institutions still bear risk and cost of breaches.
CUNA, NAFCU and bank trade associations fire off a letter to leaders on Capitol Hill countering what they say are false retailer claims about data breaches.
Lawmakers, trade associations and industry lobbyists increase pressure on Congressional committees to investigate the growing Target breach.
Electronics Payment Coalition counters NRF and other appealing firms don't represent most retailers.
Appeals may delay final implementation while credit union trade groups watch for fee, other impacts.
The multiple-party, multiple-year case over credit card interchange moved one step closer to resolution on Nov. 9 when the Honorable Judge John Gleeson granted preliminary approval of the settlement agreement between retailers, payment networks and nine major card issuers.
Decision can still be appealed and National Retail Federation said it's considering that route.
Both sides of testy dispute issue statements ahead of New York hearing.
The negotiated settlement meant to end the longstanding dispute over credit card interchange moved closer to becoming final last week as attorneys for both sides in the dispute proposed a final settlement agreement to the U.S. District Court in New York and made a motion for its approval.