Credit unions considering their options in the face of a gradual debit interchange decline might evaluate Kelly King's recent comments.

King is CEO of BB&T, a major regional bank headquartered in Raleigh, N.C.

King told reporters covering the bank's most recent financial results that the institution was moving away from free checking accounts and suggested that banks charge fees for using their debit cards to make up for the loss in interchange income from the Durbin Amendment.

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:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Payments/Credit/Debit