Javelin Strategy & Research and the Electronic Payments Coalition released a report Thursday that reveals small merchants are more concerned with value, and less concerned about price, when it comes to the fees for debit card transactions.
The attorney who prepared CUNA’s amicus brief in the U.S. Supreme Court case regarding merchant surcharges on credit card transactions has another role, to prepare Steven Wu, of the New York attorney general’s office, to present oral arguments Jan. 10.
CUNA is taking the credit union case against payment card surcharges to the U.S. Supreme Court, filing an amicus brief in a case that challenges a New York law prohibiting merchants from imposing a surcharge for using a payment card.
Consumer Financial Protection Bureau Director Richard Cordray will step down from the agency by the end of the month after serving since 2013. CUNA President/CEO Jim Nussle said CUNA looks forward to a new era at the bureau, one that takes credit unions’ structure and purpose into account during rulemakings.
Credit unions now have less than six months to come into compliance with FinCEN's Customer Due Diligence rule, effective May 11, 2018, which includes provisions on identifying the beneficial owners of legal entity accounts.