Jay Gould 
Member since Oct 31, 2011


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Re: “Bank Transfer Day

It's important to keep in mind that credit unions may not be charging their customers any debit-related fees, but the fees they charge retailers accepting their debit cards are now much higher (83%, to be exact) than what big banks charge. The reason is that they were exempted from the Durbin Amendment.

So we should not be losing sight of the issue that got the whole thing started – the size of the interchange fees. The way I see it, the issue is a very simple one. If a fee charged by one bank to a retailer is considered too high, it should also be considered too high if any other bank charges it to that retailer. I just can't see it any other way and I can guarantee you that retailers see it exactly the way I do. http://blog.unibulmerchantservices.com/cre…

1 like, 3 dislikes
Posted by Jay Gould on 10/31/2011 at 6:08 PM

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