Ohio shows united opposition to debit interchange rule
Published by: Sean Brown
May 14, 2024 | Regulatory
Cards, compliance, and cybersecurity all have a cost, and that is why the League submitted a comment letter expressing serious concern and vehement opposition to the Federal Reserve’s proposal to reduce debit card interchange fees. Additionally, a League-led Call to Action produced another 50 messages to the Federal Reserve highlighting that regardless of size, Ohio credit unions with debit card programs will be negatively impacted by any government-mandated debit interchange pricing shifts. As member-owned financial institutions committed to helping people afford every aspect of life, Ohio credit unions must be able to offer safe and secure products and services that help members meet the fiscal realities of life. As we wait for a decision on the final rule, the League will continue to advocate for your right to decide how best to serve your members.
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