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The Federal Reserve Board building in Washington, D.C., The Federal Reserve Board building in Washington, D.C., Photographer: Joshua Roberts

NAFCU, CUNA and four banking groups wrote to the Federal Reserve Board of Governors this week to request it pull back on a recent proposal to reopen discussions involving Regulation II, which covers debit card interchange fees in the Durbin Amendment of the Dodd-Frank Act.

The letter, signed by CUNA, NAFCU, the American Bankers Association, the Consumer Bankers Association, the Independent Community Bankers of America and the National Bankers Association, stated their opposition to any further variations to interchange fees as laid out in the Durbin Amendment.

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Michael Ogden

Editor-in-Chief for CU Times.

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