A day after new regulations from the new CARD act went into effect, credit unions are getting media support on getting exemption from Federal Reserve interchange rate rules.
The backing comes from a San Antonio business writer who contends CUs are being unfairly victimized by the rules since CUs and their members are having "to help pay for the sins of the other financial institutions that actually caused the massive harm that unfolded two years ago."
The comments of writer David Hendricks, in his "My SABusiness" column appearing in the San Antonio Express News Saturday, are highlighted this week in e-mail bulletins of the Texas Credit Union League.
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