Payments/Credit/Debit

American's generally may be cutting back on their use of revolving credit, but the holders of at least some credit union issued cards are still borrowing.

A federal judge wrapping up the case against the Hannaford Brothers supermarket chain over its 2007/08 card breach has asked the Maine Law Court for a ruling that might open the door for card issuers to recover more of the costs of card breaches.

The House tomorrow is scheduled to take up a measure that would give credit unions and other financial institutions more flexibility on providing notification to consumers about non-credit card accounts.

Congress shouldn't pass a measure further regulating interchange fees or speed up the implementation of a bill overhauling credit card rules, representatives of CUNA and NAFCU told lawmakers today.

Retailers testifying before Congress today on credit card interchange will claim card issuers are using their fees to finance ever greater marketing enhancements and rewards programs for their card products.

NAFCU's Director of Regulatory Compliance Anthony Demangone is scheduled to testify at tomorrow's House Financial Services Committee hearing in opposition to two measures on credit cards, the association announced today.