WARNER ROBINS, Ga.-One CEO is perplexed how the Senate could reject an amendment designed to only help Congress better understand the effects of altering debit interchange guidelines.
"It is very disappointing the Senate could not even approve an amendment to spend additional time to study and fix a bill that they previously approved without knowing what it meant," said John Rhea, CEO of the $1.4-billion Robins FCU.
Due to strong earnings and capital (12.09%), Robins is not planning to change its current debit card program, said Rhea. "However, no one will really know the complete impact of the new interchange rules for a few years. It is also troublesome that Congress isn't fixated on creating jobs and improving the economy rather than over-legislating businesses."