Payments/Credit/Debit

The Federal Reserve's proposed rule on interchange fees won't help merchants enough and will still help big banks keep high profits at their expense, the Merchants Payment Coalition wrote Congress.

Even though the vast majority of credit unions never abused credit card holders the way many big bank issuers did,

A startup credit reporting firm is offering consumers a way to have their routine payments build up their credit scores while earning rewards.

The year 2010 will be remembered as when the federal government got involved in how much interchange banks and credit unions earn on their debit card transactions.

FIS is now using INETCO Insight's transaction monitoring software to spot problems in the Florida company's ATM and POS processing operations, the companies said.

House Financial Services Committee Chairman Barney Frank expressed concern to the Federal Reserve that regulations limiting interchange fees could increase the regulatory burden on credit unions and other small financial institutions.