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NAFCU Supports Increase in Small-Dollar Receipt Exemption Request for Comments

NAFCU has told the Federal Reserve that the group likes its idea of creating an exception for receipts on purchases under $15, but said the regulator could do more.

By Staff Writer | Updated on February 06, 2007

ARLINGTON, Va. — NAFCU has told the Federal Reserve that the group likes its idea of creating an exception for receipts on purchases under $15, but said the regulator could do more.

“NAFCU generally supports the creation of a small-dollar exception; however, we would recommend that the threshold for the receipt requirement be raised from $15 to $25,” NAFCU President/CEO Fred Becker wrote in a comment letter to the Fed. Currently, receipts are required for all electronic funds transfer transactions at electronic terminals, regardless of the amount.

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