Earlier this year, the Credit Union National Association tried to tout a survey of its members to support the claim that credit unions have been hurt by debit swipe fee reform.
There is just one problem. It's not true.
Since the Durbin Amendment was implemented on Oct. 1, 2011, three independent federal agencies—the Government Accountability Office, the Kansas City Federal Reserve, and the Federal Trade Commission—have found that banks exempt from new debit swipe fee rules, including all but three credit unions, have not been negatively affected.
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