Tuesday, February 15, 2011

Stop the Debit Card Rule

What does ABA, CUNA, ICBA, and NAFCU have in common?

We've all joined together to fight the Durbin Amendment, which authorizes the Federal Reserve to set the rate of the interchange fee.

If the Federal Reserve sets the rate too low, it will mean that community banks and credit unions will be harmed and will be forced to make up for lost revenue by

Eliminating free checking

Charging for online banking

Eliminating or charging for rewards programs

Annual fees for debit cards

Check out video.

Go to stopthedebitcardrule.com to find out more.


  1. Keith - well done. I could not agree more.

    Anthony Demangone
    Vice President of Regulatory Compliance
    National Association of Federal Credit Unions

  2. We already pay the interchange fees in the form of higher prices! Only under the current scheme these fees are not transparent and can be converted to profits by the bank. Putting a price on a checking account would be preferable over hiding the true cost in the form of interchange fess that no one except the banks can decipher.

    The dishonesty of this lobbying campaign is just another example of how disinterested/unable banks are in serving the interests of their customers.

  3. I guess the Banks are angry that their gravy train of sucking fees from the consumer is coming to a halt - if you believe the crap posted on this web page you deserve to be charged more fees by your bank so they can pay out huge bonuses and not not pay taxes.



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