News

Saying that that more information is needed on the unintended consequences of capping interchange fees, Rep. Shelley Moore Capito last night introduced legislation that would delay the implementation of the Fed’s interchange rule by one year.

Rep. Shelley Moore Capito (R-W.Va.) plans to introduce later today a bill that would delay the implementation of the Federal Reserve’s debit interchange rule by one year.

Sen. Jon Tester (D-Mont.) said that the bill he introduced today to delay the implementation of the Fed’s interchange rule is “going to help small banks, credit unions and consumers.”

Nearly a year after LPL Financial LLC filed for an initial public stock offering, the company that counts more than 200 credit unions among its clients is consolidating one of its subsidiaries.

David Stevens, the director of Federal Housing Administration, was named the president/CEO of the Mortgage Bankers Association today.

National Grid, which serves 3.3 million electricity customers and 3.4 million natural gas customers in Massachusetts, New Hampshire, New York and Rhode Island, has added the e-Bill Distribution service from Fiserv Inc.