interchange

The Federal Reserve’s debit interchange proposal would bring real-world harm to consumers and card issuers of all sizes and should be withdrawn, America’s Credit Unions wrote the Fed in comments filed Friday. The proposal would adjust all three components of Regulation II’s interchange fee cap and calculate it using information weighted towards the cost experience …

Debit interchange proposal will negatively impact consumers, should be withdrawn Read More »

The Senate Wednesday rejected by a vote of 85-12 an effort by Sen. Roger Marshall, R-Kan., to consider unrelated amendments, including the Big Box Bailout bill, to the Federal Aviation Administration (FAA) reauthorization. America’s Credit Unions has led efforts to oppose the Credit Card Competition Act, arguing the legislation to extend interchange routing requirements to …

Senate rejects bid to consider Big Box Bailout with FAA bill Read More »

The Federal Reserve’s proposal to further lower debit interchange fees was the top priority during a meeting between America’s Credit Unions’ Andrew Morris, along with other trade groups, and Federal Reserve Vice Chair Michael Barr Monday.  America’s Credit Unions has met with most of the Fed’s Board of Governors to discuss this proposal.  Morris reiterated …

Voicing credit union Reg II concerns with the Fed  Read More »

Big box retailers are attacking consumer convenience, security, and value with the Big Box Bailout bill, America’s Credit Unions President/CEO Jim Nussle, American Bankers Association President/CEO Rob Nichols, and Independent Community Bankers of America President/CEO Rebeca Romero Rainey wrote in American Banker Monday. “These new mandates will not only jeopardize your security — they will …

Big Box Bailout bill is an attack on consumers Read More »

The comment deadline is approaching for the Federal Reserve’s debit interchange proposal that America’s Credit Unions believes would dramatically harm credit unions and consumers. Comments are due May 12, and all Leagues, credit unions, and other stakeholders are encouraged to submit comments. America’s Credit Unions maintains that the current interchange system works, that reduction in …

Comments essential to highlighting negative impact of Fed interchange proposal Read More »

An overwhelming majority of small businesses oppose proposed changes to the credit card interchange system, according to Small Business Payments Alliance (SBPA) research released this week for National Small Business Week. The SBPA is a project of the Electronic Payments Coalition, of which America’s Credit Unions is a member. The survey found: In addition, nearly …

Majority of small businesses oppose Big Box Bailout bill Read More »

America’s Credit Unions President/CEO Jim Nussle appeared on Charlotte news station WCNC to discuss how credit unions are working to protect American consumers’ sensitive data.  Nussle emphasized that interchange fees are an integral part of how credit unions protect consumers from credit card fraud, which totaled nearly $14 billion in 2023. He added the importance …

Nussle: Credit unions are working to protect Americans’ data  Read More »

America’s Credit Unions Senior Vice President of Advocacy Greg Mesack met with Federal Reserve Vice Chair Philip Jefferson Monday to discuss the Fed’s debit card interchange proposal. America’s Credit Unions strongly opposes the proposal, and has pushed back on it with a multipronged approach  that includes meetings with both staff and Board members at the …

America’s Credit Unions, Fed Vice Chair discuss interchange proposal concerns  Read More »