Credit Union Times | Accurate and Timely CU News

Federal Reserve Proposes Interchange Cap at 12 Cents

By David Morrison

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.

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On-Site Coverage: NCUA Strengthens Rules On Conversions and Requirements for Volunteers

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Controversy Helped Drive Down November Foreclosures, Firm Said

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December 15, 2010

IT Consultancy Predicts 2011 Tech Trends

Cloud computing adoption and outsourcing IT, preparing for the changeover of Internet server addresses, mobile computing and the continuing rollout of Windows 7 are all things that the credit union backshop may be dealing with in 2011.

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December 15, 2010

Ongoing Operations Expands into Cloud IT

A Maryland CUSO has partnered with a hosted applications specialist in California to offer a new suite of production IT offerings for credit unions.

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December 15, 2010

NACUSO Says CUSO Payments May Trigger Exodus

CUSOs using a corporate credit union's services may seek liquidity outside of the industry if a provision requiring them to pay a voluntary payment to the Temporary Corporate Credit Union Stabilization Fund goes through.

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December 15, 2010

Federal Reserve Interchange Rule Could Result in Drastic Cuts For CU Income

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.

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December 15, 2010

Fed Staff Reaffirms Interchange Cap Will Be Bad for CUs

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.

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December 14, 2010