The Federal Reserve Board will appeal a district court ruling striking down interchange fee caps.
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.
A recent court decision vacates the Department of Labor’s Administrator Interpretation on Mortgage Loan Originators. The weekly Compliance Report has details.
Credit unions should perform compliance reviews following the Supreme Court ruling mostly upholding the Affordable Health Care Act. Provisions already implemented will remain in effect, and now is the time to prepare for the pending requirements.
Credit unions have generated more than 85,000 grassroots contacts on interchange over the past three weeks, and CUNA has called a national teleconference for Wednesday, April 13.