Payments/Credit/Debit

Citing a potentially devastating impact on credit unions, both CUNA and NAFCU urged the Obama administration to endorse a delay in the implementation of the Federal Reserve’s rule regulating debit interchange fees.

Anyone who thinks U.S. credit unions have only two shared branching networks from which to choose has never met Scott Collins.

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.

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.