Create Comment

Re: Occupy North Park- Action at the BofA! 1pm Tuesday

author: 
anonymous

When it comes to comparing banks to credit unions, we should not only examine their relationships with consumers, but also with merchants. As far as the latter is concerned, a strong argument can be made that in the post-Durbin world banks, big and small, are now much more merchant-friendly than credit unions.

See, credit unions were exempted from the Durbin Amendment and as a result the fees they charge retailers accepting their debit cards are now much higher (83%, to be exact) than what banks charge. http://blog.unibulmerchantservices.com/credit-unions-muscle-in-on-big-ba...

So we should not be losing sight of the issue that got the whole thing started – the size of the debit interchange fees. It seems to me that the issue is a very simple one. If a fee charged by one bank to a merchant is considered too high, it should also be considered too high if any other bank, or a credit union, charges it to that retailer. I just can't see it any other way and I can guarantee you that merchants see it exactly the way I do.

Upload text, audio, video, etc.: Order
Maximum file size: 64 MB
Allowed extensions: txt pdf xml doc docx odt ods odp sxw sxi rtf mp3 wav wmv mov flv mp4
Upload images: Order
Maximum file size: 8 MB
Allowed extensions: png gif jpg jpeg
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.