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Joint Trades Letter to Fed on Debit Card Interchange

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Dear Chair Powell:

The undersigned nine trade organizations represent a broad coalition of federally regulated financial institutions, including community banks, credit unions, and military financial institutions who are concerned about regulatory actions impacting the sustainability and affordability of core deposit account services.

We write to urge the Board of Governors of the Federal Reserve System (“Board”) to reject merchant requests for the Board to propose further changes to Regulation II (Debit Card Interchange Fees and Routing).

Click here for the full letter 

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