Browsing: Interchange

Newsbytes Fed community banker council requests withdrawal of debit card proposal

A Federal Reserve proposal to significantly tighten the cap on debit card interchange compensation earned by banks has introduced sustainability concerns for smaller and medium-sized financial institutions that are trying to stay independent rather than merging, the members of the Fed’s Community Depository Institutions Advisory Council told the agency.

Newsbytes ABA, trade groups call for extension on Reg II changes

ABA joined four other financial trade associations in a letter to the Federal Reserve last week seeking an extension for the effective date of a recent final rule amending Regulation II (the implementing regulation for the Durbin Amendment).

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