CUNA comments on appeals court decision in interchange case

Statement by CUNA General Counsel Eric Richard on appeals court overturning merchant challenge to fed interchange rule

“This is truly a rebuke to the merchants and a victory for credit unions. While CUNA and our partner members of the coalition of financial institutions continue to maintain that the cap is too restrictive, this decision constitutes an almost total rejection of the merchants’ arguments. We hope this decision will be a first step toward restoring some grounding in reality to the debate over interchange fees, not only in the courts , but also in Congress and at the regulatory agencies.”



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