Payments/Credit/Debit

Credit Union Times is very proud to announce the winners of our 2011 Trailblazer Awards. The winners were honored March 1 at a reception held during CUNAs Governmental Affairs Conference in Washington D.C.

WASHINGTON — Experts familiar with the debit interchange fight urged credit union leaders at CUNA's Governmental Affairs Conference to prepare for the best on the pending rule but prepare for the worst.

Even members of credit unions that don't even have mobile banking are able to access their CU accounts using a smart phone – provided their CUs participate in shared branching.

A new partnership between Financial Service Centers Cooperative Inc and a leading online foreign exchange company now allows participating CUs to offer their members foreign exchange.

Two members of the Senate Banking Committee wrote Federal Reserve Chairman Ben Bernanke asking him to "create a workable small issuer exemption," in the debit interchange rule that the Fed is writing.

CUNA says the Fed's proposed interchange rule would have adverse effects for credit unions and that it should work with Congress to delay implementation by two years to further study the issue.