Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Madison newspaper CUNA leading voice on interchange
MADISON, Wis. (7/8/10)--The Credit Union National Association (CUNA) has “emerged as a leading voice of opposition to the financial services reform package, saying the swipe fee provision is onerous enough that the entire bill should be scrapped,” according to Sunday’s The Capital Times, a Madison, Wis.-based paper. In a letter to Congress, CUNA said that imposing a debit card fee limit “upsets the carefully constructed balance that the bill has achieved,” and would significantly harm credit unions and their members, the newspaper reported. The House version of the bill passed late last month excludes some credit unions and community banks with assets of less than $10 billion from the debit card fee limit, the paper said. However, the exclusion is rendered meaningless because of the complex ways interchange fees are calculated, and because there is no mechanism to make sure there will be a separate fee system for large and small users, the CUNA letter said. Therefore, the system eventually would include all cards and hurt the income stream for credit unions, CUNA added. To read the article, use the link.
Other Resources

RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
12 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
13 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
13 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
14 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
15 hours ago