News

An economist who has authored research papers for the Filene Research Institute was one of the leading voices in favor of the proposed debit interchange cap at a recent Washington DC conference.

Sen. Jon Tester (D-Mont.) will attempt to offer his bill to delay the implementation of the Federal Reserve’s debit interchange rule as part of a bill to fund the Small Business Administration currently being discussed in the Senate.

Federal Reserve Chairman Ben Bernanke told lawmakers today that the central bank won’t be able to make the April 21 deadline for releasing a final rule to regulate interchange fees.

Members of the House Financial Services Committee today unveiled a series of bills that would eventually wind down mortgage buyers Fannie Mae and Freddie Mac.

A group of credit union CEOs and top managers claimed progress in winning support from Congress to halt what they said are damaging policies of NCUA and regulatory agencies as they pursue rescinding the Durbin interchange amendment.

Borrowers would have to put 20% down on a mortgage in order for the lender to be exempt from the “skin in the game,” rules, according to a proposed rule sent out for comment today by the FDIC and other regulators.