First Data's initial statement on the Federal Reserve's proposed debit interchange rule did not mention establishing a debit interchange schedule for small debit card issuers.

The Board of Governors of the Federal Reserve today proposed a rule which would cap debit card interchange at no more than 12 cents per transaction.

RealtyTrac, a firm specializing in foreclosed and economically distressed homes, reported that the numbers of properties in some part of the foreclosure process nationwide dropped by 21% in November.

The impact of the Federal Reserve's proposed rule on debit interchange could be a "drastic" cut to CU debit card income, according to CUNA CEO Bill Cheney.

Contrary to the assurances of Illinois Senator Richard Durbin (D), the interchange cap which flows from the amendment that bears his name will reduce credit union income from debit card interchange.

The $145 Beehive Credit Union, headquartered in Salt Lake City, formerly a candidate for a mutual bank charter, is no more.

The market for credit union credit card portfolios has slowed down.

The Durbin Amendment to the Dodd-Frank financial reform act will likely cut credit union debit card income in the short term but may also spur further innovations in the payments industry.