Credit unions today urged Congress to halt the progress of the Federal Reserve’s interchange proposal and study the impact that interchange changes would have on financial institutions and consumers alike before the interchange rulemaking process can continue.
Credit unions operating in Washington state are required to train their member facing employees to recognize vulnerable adult abuse. Throught the NWCUA, receiving this training is just one click away.
Credit unions are calling on Congress to stop, study and start over on planned interchange fee regulations, and legislation that would do just that could be introduced later this week.
As the Federal Reserve moves closer to implementation of the new interchange law, financial institutions across the country are concerned about how they will be affected by the possible loss of interchange fee income.
With credit unions and banks aligned in their efforts to convince regulators and lawmakers to delay implementation of restrictions
on debit card interchange fees, the Federal Reserve Board has stated that any attempt to amend or delay the controversial rule is out of its hands and must start with Congress.
The Filene Research Institute’s recent research titled “Consumer Financial Protection: U.S. Proposals and International Experience” describes the experiences of credit unions around the world that operate under similar consumer protection schemes that the U.S. has recently created.
Dennis Dollar’s perspective on the latest regulations designed to protect consumers from another “too big to fail” financial industry debacle.
News began to emerge Friday that regulators were in Spokane to close $11 million The Union Credit Union, which slipped below an allowable net worth.
Voices of the credit union movement, in Washington and beyond.