Payments/Credit/Debit

Credit unions across the land are seizing this marketing opportunity, as CUNA officials put it Tuesday, to take advantage of the favorable industry media coverage following the announcement of Bank of Americas $5 monthly debit fee.

First Data Corp. says consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year but the firm credited inflated prices for the increase rather than an increase in purchases.

First Data Corp. says consumers spent more on their credit and debit cards in September 2011 than they did in the same month last year but the firm credited inflated prices for the increase rather than an increase in purchases.

The issue of revenue that banks and credit unions make from transactions on their debit cards moved from the obscure corners of the financial services industry into the national spotlight last week as the Federal Reserve's debit interchange cap came into effect.

CEO Larry Biernacki says no fee for members who have had cards for at least three years, and no new fees for at least the next three years.

This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.