Trade groups urge Fed to look into fraud-adjustment fees

10/2/2011 | Credit Union Times

The Financial Services Roundtable and other groups representing banks, credit unions and payment systems sent a letter to the Federal Reserve asking for a raise in fraud-adjustment fees incorporated into the interchange-fee rules. "At a minimum, we urge the Federal Reserve to survey carefully issuers' fraud prevention costs and reconsider, with appropriate frequency, the formulation for the fraud prevention adjustment amount," according to the letter.

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