Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA, Fed, merchants on for interchange oral arguments this morning
WASHINGTON (1/17/14)--A trio of U.S. Court of Appeals for the District of Columbia Circuit Judges today will hear interchange oral arguments from the Credit Union National Association and coalition partners, the Federal Reserve, and merchant representatives.

Circuit Judges David Tatel, Harry Edwards and Stephen Williams will hear the arguments in the ongoing debit interchange case known as NACS, et al. v. Board of Governors of the Federal Reserve System.

The hearing is scheduled to start at 9:30 A.M. (ET) and will feature 25 minutes of arguments from merchants, 10 minutes from financial services representatives and 15 minutes from the Fed.

The case centers on a merchant coalition challenge to the Fed's implementation of a Dodd-Frank Act-imposed debit interchange cap. The merchants allege the cap is too high. CUNA and its partners maintain that the cap, in fact, is too restrictive.

Watch News Now for coverage of the hearing.


RSS





print
News Now LiveWire
.@CFPB has concerns Re:electronic paymnts networks,particularly its effects on consumers,said bureau director Cordray http://t.co/mqi9bHL6Fb
3 hours ago
#NewsNow CUNA Tech Council white paper looks at EMV http://t.co/2znk5N0Y4m
3 hours ago
.@CUNA 3 pm ET Twitter chat Tues about recent customer satisfaction results ranking #CUs much higher than banks. #CUServiceExcellence.
4 hours ago
AACUL honors @DianaRDykstra with Eagle Award; Wendell Lyon re-elected chair http://t.co/FacmfLiItH
4 hours ago
.@NCUFoundation's Hyland, #creditunion leaders grace small screen for Va. TV program #CUNANewsNow http://t.co/opmMXzD91e
5 hours ago