Federal Reserve Board Seeks Debit Card Interchange Data
The Federal Reserve Board is conducting a new data collection effort involving a random sample of 1,000 depository institutions that are exempt from the Board's interchange fee standards under Regulation E, Electronic Fund Transfers Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Financial institutions that have assets of less than $10 billion are in the sample, which includes some credit unions, and are being asked to complete the voluntary online questionnaire by October 31. The survey is available here.
The survey seeks general information about debit card programs. It also is asking for information on general use prepaid cards and costs associated that apply to all institutions providing debit cards of complying with the network exclusivity provisions of the debit interchange regulation. Credit unions that have questions about the survey are directed to contact Edith Collis, Board of Governors of the Federal Reserve System, Washington, DC 20551, 202-452-3638.