Regulatory & Compliance

The number of credit union executives from across the country that turned out on Capitol Hill for the interchange battle was very impressive, especially on such short notice and when travel budgets have been practically bled dry.

The U.S. Government could save between $36 million and $39 million in interchange fees annually if it had the right to negotiate for better terms, according to a Treasury Department report.

Though the audit of the NCUA released yesterday said the agency's finances were accurate, the report found material weaknesses in its reporting and documentation methods.

In more ways than one, the purchase by the $1 billion Royal Credit Union of 11 branches of an ailing Wisconsin bank represents an extraordinary and very positive precedent for CUs.

Senate Majority Whip Richard Durbin is "disappointed," with the arguments made by CUNA and the Independent Community Bankers of America in opposing his amendment to regulate interchange fees.

A new consumer survey from Visa Inc. has found that consumers oppose the most recent legislation to regulate debit card interchange when told the new rules might cost them more money.