Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Filene to study effects of interchange shifts
MADISON, Wis. (7/8/10)--The Filene Research Institute is launching a survey intended to define the full effects shifting interchange rules will have on credit union operations, and credit unions have until July 16 to participate in the study. The online-only survey is available now for all credit unions. Adam Levitin, professor at Georgetown University Law Center, seeks to understand interchange practices and revenue at credit unions to project how changes in the law could affect non-interest income and profitability at credit unions. Any data provided will be published only in aggregate and will not identify individual credit unions, Filene said. The final financial regulatory reform package, worked out last month by the House-Senate conference committee, includes language that would allow the government to set interchange fees. Credit unions and the Credit Union National Association (CUNA) oppose the regulatory reform bill because of the interchange provisions. Allowing the government to set the fees would have detrimental effects on credit unions’ ability to offer card products and services to members, CUNA has said. The House already has approved the regulatory reform bill, and the Senate is expected to do so when the Congress returns to session after the July 4 District Work Period. Interchange provisions would not only affect how credit unions provide access to members’ accounts, they also would increase costs to credit union members. CUNA and its affiliated credit unions continue to urge legislators to vote no on the current regulatory reform package. To take the survey, use the link.
Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago