News

Retailers testifying before Congress today on credit card interchange will claim card issuers are using their fees to finance ever greater marketing enhancements and rewards programs for their card products.

To help residents in Dryden, N.Y. start their own businesses, the town has partnered with Alternatives Federal Credit Union to provide individual development accounts to make it happen.

Congress shouldn't pass a measure further regulating interchange fees or speed up the implementation of a bill overhauling credit card rules, representatives of CUNA and NAFCU told lawmakers today.

They may diverge on the correct means to the end, but this morning's Credit Union Times Best Practices Conference keynote speakers did agree that financial cooperatives have an unprecedented opportunity to redefine their culture and capture market share.

The NCUA should have its proposed regulations for corporate reorganization ready next month or at year-end and by then credit union executives should be taking an active part in the comment period.

The message carried in the Twin Cities media over the summer may have been "Lenders Gone Wild" but conditions are relatively stable in Minnesota compared to the rest of the country.