Legal Briefs

Federal Reserve Board (FRB)

The FRB published a comparative report on the average debit card interchange fees that each payment card network charges. The average fee per transaction for non-exempt issuers in fourth quarter 2011 was 24 cents while the average fee per exempt issuers (those under $10 billion) was 43 cents per transaction.

Financial Crimes Enforcement Network (FinCEN)

FinCEN will hold an informational Webinar on Tuesday, May 8, 2012, to discuss the updated technical specifications for FinCEN’s new currency transaction report (CTR) and suspicious activity report (SAR) online forms.

Social Security Administration (SSA)

The SSA announced that online versions of Social Security Statements are now available at

Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Advocacy News, Compliance News.