Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Credit unions and other debit issuers with assets of less than $10 billion would have been better off under the Federal Reserve’s new proposed rule on debit interchange if the rule’s underlying law had not granted them a supposed exemption.

Illinois Democratic Senator Richard Durbin sold the idea of regulating debit card interchange by claiming the rule would impact only large issuers. The measure would exempt issuers of less than $10 billion in assets from the impact of the rule, leaving their debit card interchange unchanged, he argued, and limiting the debit card interchange of issuers with more than $10 billion in assets.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.