Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA, Fed, merchants on for interchange oral arguments this morning
WASHINGTON (1/17/14)--A trio of U.S. Court of Appeals for the District of Columbia Circuit Judges today will hear interchange oral arguments from the Credit Union National Association and coalition partners, the Federal Reserve, and merchant representatives.

Circuit Judges David Tatel, Harry Edwards and Stephen Williams will hear the arguments in the ongoing debit interchange case known as NACS, et al. v. Board of Governors of the Federal Reserve System.

The hearing is scheduled to start at 9:30 A.M. (ET) and will feature 25 minutes of arguments from merchants, 10 minutes from financial services representatives and 15 minutes from the Fed.

The case centers on a merchant coalition challenge to the Fed's implementation of a Dodd-Frank Act-imposed debit interchange cap. The merchants allege the cap is too high. CUNA and its partners maintain that the cap, in fact, is too restrictive.

Watch News Now for coverage of the hearing.


RSS print
News Now LiveWire
Post #QE, @federalreserve concerns still linger, says @CUNA's Schenk http://t.co/0GSrpUYpyG
4 minutes ago
.@CUNA's @HampelBill in @WSJ on @federalreserve mtg: 'No significant impact on financial markets or the economy' http://t.co/sbJycxdDXS
23 minutes ago
#ApplePay: #Creditunions need it to be competitive, says @CUNA webinar http://t.co/Rf8j9KWru2
32 minutes ago
Consumer confidence hits 7-year high #Market #NewsNow http://t.co/s7DGIGLZb3
18 hours ago
Still time 2 register 4 @TheNCUA Nov. 19 webinar, “Building a Loan Portfolio: Four Keys to Lending,” hosted by OSCUI. http://t.co/ezTFpnhHlP
19 hours ago