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America's Credit Unions Presses Fed On Interchange, Payments And Check Fraud Ahead of ...
America's Credit Unions lobby the Federal Reserve to halt proposed Regulation II changes to debit interchange pending litigation resolution, tighten supervisory requirements for non-bank financial services entities seeking Master Accounts, and modernise check-hold rules to combat fraud. The letter precedes Chair Kevin Warsh's House testimony.
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The Wire takeaway
The Fed is about to make a decision on debit interchange fees that will reshape what card payments cost you. If you're building payments, treasury, or embedded finance for SMEs, the outcome determines your unit economics for the next five years - the hearing is this week.
Read the full story at cutoday.info →
Topics: Fintech · debit-interchange · regulation-ii · check-fraud · fed-policy · payments-infrastructure