Payments/Credit/Debit

Vermont Governor Jim Douglas has the power to make his small state the first in the country to pass a measure that could significantly impact the amount of card interchange earned from card transactions.

NAFCU has written a letter to U.S. Senators about one of the amendments to the Restoring American Financial Stability Act of 2010 that has drawn little attention, a measure that would cap ATM fees at fifty cents per transaction.

The Pennsylvania Credit Union Association is urging its member credit unions to contact their U.S. Senators to oppose recent amendments on card interchange.

Three amendments on the interchange issue would "impose heavy new restrictions on interchange fees," NAFCU Executive Vice President B. Dan Berger wrote Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell today.

The Senate's number two Democrat said today there will be at least three amendments to regulate interchange fees during that chamber's upcoming debate on regulatory restructuring and backers will frame them as a way to assist small businesses.

Triton of Delaware, an ATM manufacturer that makes its machines in the U.S., and formerly a division of the Dover Corporation, has been sold to private investors, the company has confirmed press reports.