Payments/Credit/Debit

Credit unions got a bit of good news when the Federal Reserve reversed itself and announced that debit interchange fees will be capped at 21 cents a transaction, up from the original proposal of 12 cents, with a 1 cent fee for fraud prevention and a five basis point allowance...

I hear a number of concerns from credit unions today: external forces such as slowing loan growth, squeezed margins, evidence of compliance and financial regulation bills are challenging business as they look for new ways to drive growth.

Credit Union Times gathered insight and reaction on the Federal Reserve's announcement Wednesday that it was upping the debit interchange cap from the proposed 12 cents to 21 cents plus 5 basis points per transaction.

Minnesota bank's CEO says suit served its purpose and "it is time to move on."

This article about the Fed's move on the interchange cap is just one of the articles that will appear in the next print edition of Credit Union Times.

This article about the Fed's move on the interchange cap is just one of the articles that will appear in the next print edition of Credit Union Times.