Credit unions should continue to throw themselves body and soul into fighting a looming cap on debit card interchange, but should do so without any significant expectation that they will succeed.
That was the conflicting and gloomy message delivered from a panel of executives CUNA convened on the topic as part of its Governmental Affairs Conference.
The Federal Reserve proposed a rule to implement an amendment in last year's financial reform law that could potentially cut debit card interchange for credit unions. The new regulation is scheduled to go into effect in July.
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