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House and Senate conferees will tackle the issues of greatest interest to credit unions in the financial overhaul when they meet later today.

On interchange, they are slated to discuss a House offer which keeps much of the language in the Senate bill giving the Federal Reserve the power to regulate interchange fees. Although there are exemptions for small financial institutions and the Fed has leeway if banks and credit unions raise concerns about the cost of fraud prevention, CUNA and NAFCU both said that the language is enough for them to oppose the whole bill.

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