Payments/Credit/Debit

The Hispanic community will “suffer a significant burden,” if Congress and regulators don’t study the unintended consequences of the Durbin amendment to regulate debit interchange fees, Hispanic Chamber of Commerce President/CEO Javier Palomarez conveyed to Senate leaders.

Fiserv Inc. has added potentially billions of new users of its ZashPay person-to-person payment service through an agreement with Visa Inc.

Fiserv Inc. has added potentially billions of new users of its ZashPay person-to-person payment service through an agreement with Visa Inc.

Half of the respondents in a 14-country survey about fraud concerns cited cards as their main worry, yet 10% of them in the U.S. said they carry their PINs with those same cards.

The interchange cap, loan demand, compliance burdens and corporate pricing are all figuring in the early discussion of those newly named Federal Reserve panels composed of bank and credit union CEOs.

On issues such as debit interchange and limiting the growth of future regulations, banks and credit unions are on the same side of the political divide. On others, such as credit unions tax-exempt status and raising the cap on member business lending, the industries interests diverge.