Payments/Credit/Debit

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.

Credit card holders across the country are angry at their card issuers and unprecedented numbers of them are voting against their issuers with their wallets, according to a poll from Consumer Reports.

Visa USA has stepped forward with a set of best practices for the use of so-called end-to-end encryption.

The law suits of financial institutions, at least five of them credit unions, seeking to recover losses incurred because of the Heartland Data Systems card security breach have been rolled into one suit.