A coalition of retailers dedicated to capping and reducing cardinterchange hopes that U.S. legislators and regulators might followa European example on the subject.
Last Friday, Sen. Richard Durbin(D-Ill.) and U.S. Rep. Peter Welch (D-Vt.)addressed a letter to Ben Bernanke, chairman of the Federal ReserveBoard, asking that he “carefully review” the proposal from theEuropean Commission on credit and debit card interchange.
The European Commission has proposed capping debit and creditcard interchange at 0.2% and 0.3% respectively. The EuropeanCommission functions as the administrative and regulatory authorityfor the European Union.
Continue Reading for Free
Register and gain access to:
- 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.
Already have an account? Sign In Now
© 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.
