Three years after the Durbin Amendment took effect, the law’s painful impact on the cost of selling soda, candy, newspapers, and other small-ticket items remains an issue. And things may stay that way unless the newly elected Congress acts after taking office at the...
Over the past several years, during his conference calls with analysts to review Discover Financial Services’ quarterly earnings, chief executive David W. Nelms occasionally took swipes at Visa Inc.’s efforts to maintain its dominant debit card market share in the...
David Lott, retail payments risk expert at the Federal Reserve Bank of Atlanta, examines the lead up to, reaction against, and eventual fallout of the cap on debit card interchange fees imposed by the Durbin Amendment. Lott notes the Durbin Amendment was in some ways...
Retailers are taking other steps to protect their profit margins from swipe fees. For instance, a Georgia coffee shop will sell customers $5 gift cards and deduct the value of their purchases from their cards, or will open tabs for customers who plan to stay for an...
On June 29, 2011, the Fed announced the final regulation on the Durbin Amendment which went into effect on October 1, 2011. This final regulation caps interchange fees at $.21 per transaction plus 5 basis points for both PIN based and signature debit transactions for...
