Say Goodbye to Plastic

NWCUA Strategic Link partner CSCU talks about moving away from the physical card and going digital.

CO-OP: Oct 1 Just a Step Along the Way to EMV Compliance

With the EMV compliance deadline just past, CO-OP Financial Services offers a look at the landscape of liability and compliance in the marketplace, and tells credit unions what to expect going forward.

STCU Begins Issuing Secure, Microchip Credit Cards

As data breaches continue to make news, STCU has begun issuing new, more secure credit cards. But merchants are slow to upgrade.

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.

Volunteers Needed to Play Merchants and Counselors at Financial Reality Fair

Volunteers are being recruited now to play the role of merchants or financial counselors at the Northwest Credit Union Foundation’s Financial Reality Fair, which will be held Feb. 6, 2014, on the Capitol grounds in Olympia.

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.

CSCU Answers Questions about Credit Card Surcharges

Late last month, merchants in the United States were granted the ability to impose a surcharge on credit card transactions, giving businesses a piece of the interchange pie while leaving consumers and financial institutions with a sea of unanswered questions.

Merchant Surcharging on Credit Cards Quietly Began on Jan. 27

As of Sunday, merchants in the United States and U.S. Territories can now impose transaction surcharges on consumers using credit cards. The new ability to collect the surcharge stems from last summer’s antitrust class-action settlement between VISA and MasterCard and a large group of merchants.

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.

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.

Interchange Steering Informant Site Launched by CUNA

New debit interchange fee cap regulations prohibit merchants from discriminating against credit union-issued cards; CUNA has launched a new website to help credit unions report any instances of steering.