Payments/Credit/Debit

Last year, Congress passed landmark legislation to reform the interchange fee system in America. This bipartisan effort came after years of congressional hearings and Government Accountability Office studies that made clear that the interchange system was on an unsustainable course.

Since its introduction last year as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the interchange price cap amendment has been a source of great consternation for our industry. NAFCU, both in principle and substance, has fought it fervently.

If you don’t tell people what is on your mind, they’ll never know. The credit union industry has taken this to heart on the interchange issue.

The new Bureau of Consumer Financial Protection–which will be the driving force behind the writing and enforcement of a myriad of consumer regulations–isn’t scheduled to begin operating until July.

Thirty credit unions that process their credit cards with The Members Group have made the “Dean's List” at Credit Card Connection.

Thirty credit unions that process their credit cards with The Members Group have made the “Dean's List” at Credit Card Connection.