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
FHFA today announced it's extending comment deadline for guarantee fees Fannie, Freddie charge lenders to Sept. 8.
12 hours ago
The 2014 @CUwomen Forum was held in Gold Coast, Australia yesterday during @WOCCU 's World CU Conference.
15 hours ago
.@CFPB obtains $92M in debt relief from Colfax Capital Corp. http://t.co/QPZAeCAcy2 See also: http://t.co/Kjf4HHkINW
16 hours ago
Julian Castro was sworn in as 16th secretary of @HUDgov Dept. of Housing and Urban Development Mon.
16 hours ago
.@CUNA's Chief Economist @SchenkMike talks consumer confidence--at highest levels since 2007 w/ @TheStreet @JoeDeaux http://t.co/JyoYQmhAxc
16 hours ago