Part II | New Assault Launched On Card Interchange – Credit Union Journal Daily Briefing Article


Recent studies show that consumers paid more than $62 billion in interchange fees on cards last year, more than $50 billion of it going through the two networks. Credit unions are believed to have earned about a tenth of those fees, some $6 billion. The latest Durbin amendment must now be approved by the full Senate Appropriations Committee, which is scheduled to take up the subcommittee’s bill tomorrow, then by the full Senate. It would also have to be approved by the House, which has not yet taken it up. “There’s still a lot of steps to this,” NAFCU’s Thaler told Credit Union Journal yesterday

READ ARTICLE via New Assault Launched On Card Interchange – Credit Union Journal Daily Briefing Article.

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