NAFCU Statement on Interchange Ruling by D.C. U.S. District Court
WASHINGTON, DC (July 31, 2013) — National Association of Federal Credit Unions (NAFCU) General Counsel and Vice President of Regulatory Affairs Carrie Hunt issued the following statement based on today’s ruling by U.S. District Court for the District of Columbia on the Federal Reserve’s rule implementing the Durbin Amendment.
“NAFCU has maintained, and continues to maintain, that the Fed’s rules on debit interchange fee standards and network exclusivity are reasonable and in keeping with its own authority under the law. As it stands, the Court’s ruling will have an irreparable, detrimental impact on credit unions’ ability to ensure their members receive the services they need. We are reviewing it to determine our next steps.”
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.