The U.S. District Court for the District of Columbia Monday said it will issue an order providing the Federal Reserve Board 60 days to resolve the final issue remaining from merchants’ lawsuit challenging its debit card interchange transaction fees regulation: how it treats transactions-monitoring costs.
The second phase of Same Day ACH rollout has a Sept. 15 effective date, and a list of recommended action items to be performed has been released. All financial institutions must be prepared to receive by Sept. 15.
As Congress works this week to fund the government past April 28, CUNA will be engaged in the process as it seeks to see 2 particular issues addressed: funding for CDFIs and the CFPB's exemption authority.
CUNA stands ready to work with legislators to see regulatory relief enacted into law, and the CHOICE Act is a good first step, CUNA wrote to House Financial Services Committee leadership Tuesday in advance of a hearing on the bill.