Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A few credit unions have begun to detail the impact of the Federal Reserve’s proposed cap on debit card interchange, telling the agency that its proposed rule will sharply hurt their bottom lines.

“We have estimated that we stand to lose $402,000 a year in interchange income from our members’ debit card transactions if this Durbin bill is not amended,” wrote Eileen Rivera, CEO of SkyOne Credit Union. “Our net income was only $84,000 in 2010. We will find ourselves in a position of significant negative earnings if we don’t reverse this piece of the bill.”

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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.