Next-Gen iPhone to Use NFC for Mobile Payments

The next generation iPhone, scheduled for a September launch, will feature a mobile payments solution, reports Wired.

The New Best Thing: Understanding the Market for Mobile Wallets

More than 76 percent of mobile phone users in the United States have never used a mobile wallet. But consumers overwhelmingly say they would leave their traditional wallets at home in favor of a mobile alternative – and that means the market is poised to explode once a front-runner emerges.

Appeals Court Overturns Merchant Challenge to Fed’s Interchange Cap Rule

A U.S. Court of Appeals overturned a lower-court ruling today that supported merchants’ arguments in the ongoing debate over the interchange fees financial institutions charge for accepting card-based transactions. The Fed’s cap on “swipe fees” is not too high, the court ruled.

Federal Reserve to Appeal Interchange Ruling

The Federal Reserve Board will appeal a district court ruling striking down interchange fee caps.

Interchange Update: Financial Institutions’ Legal Teams Pursuing Options

The judge reviewing the debit interchange cap rule has set an aggressive schedule for the Federal Reserve to revise the rule. The Electronic Payments Coalition continues to monitor the developments.

What is Pin-Authenticated Visa Debit and How Does it Impact My Credit Union?

Strategic Link business partner CSCU invites you to learn about PAVD and its impact to your debit card portfolio.

U.S. District Court Delivers a Blow to Financial Institutions

A U.S. District court ruling strikes down the Federal Reserve’s price caps on debit interchange fees. The ruling could be devastating for some financial institutions. The NWCUA is working with CUNA to determine next steps.

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Cutting Edge Credit Union – OR

Northwest Community, UFCW Northwest Announce Merger Plans

Northwest Community Credit Union and UFCW Northwest Federal Credit Union last week announced plans to join forces, continuing the recent trend of credit union mergers in Oregon and Washington.

Interchange Fee Settlement Includes Plans to Temporarily Reduce Swipe Fees for Card Issuers

Visa, MasterCard and several big banks reached a $7.2 billion antitrust settlement with a large group of merchants regarding interchange fees. The settlement will cost Northwest credit unions between $2.5 and $3.5 million in fee income.

Federal Reserve Board Responds to Merchants’ Claims in Interchange Suit

The Federal Reserve Board filed a response Friday in a federal court in Washington, D.C., to merchants’ arguments for summary judgment in their lawsuit challenging the board’s debit card interchange fees rule mandated by the Dodd-Frank Act.

Federal Reserve Board Publishes Comparative Information on Average Debit Card Interchange Fees

The Federal Reserve Board published comparative information recently on the average debit card interchange fee that each payment card network charges acquirers and provides to debit card issuers. The board will publish this information annually.

NCUA Launches Two New Sites for Transparency

The National Credit Union Administration (NCUA) recently unveiled two new web pages: One on the NCUA Guaranteed Notes (NGN) program, and another on corporate credit union system resolution costs.

Association Provides Portal to Debit Discrimination Reporting

The NWCUA’s Regulatory Advocacy team works with state and federal regulators to help reduce the regulatory burden on credit unions and protect the credit union movement. Included here is an update on the debit interchange fee and the importance of reporting suspected instances of steering.