Sentence examples for debit card interchange from inspiring English sources

The banking overhaul bill still needs to pass the Senate, and then it must be reconciled with a House bill that does not mention debit card "interchange" fees.

The Federal Reserve last month announced updated debit card interchange fee statistics for the first time since the controversial Durbin Amendment went into effect in October 2011, giving us a chance to finally gauge its effect.

The price controls would have reduced debit card interchange fees by as much as 80%.

David S. Evans, Howard H. Chang & Steven Joyce, "The Impact of the U.S. Debit Card Interchange Fee Caps on Consumer Welfare: An Event Study Analysis Coase-Sandoror Institute for Law & Economics Working Paper No. 658, 2013).

The Durbin Amendment – Section 1075 of the Dodd–Frank Wall Street Reform and Consumer Protection Act – required the Federal Reserve Board of Governors to cap the debit card interchange fees that large banks charge.

This story is reminiscent of the fairy tale retailers have been telling for the past seven years – trying to convince Congress that price controls on debit card interchange fees are beneficial to consumers and small businesses.

Ironically, the Federal Reserve Board's proposed price control on debit-card interchange would have the opposite effect ("Fed Proposes Rules to Cut Debit-Card Fees," Business Day, Dec. 16).

By the middle of the week, a number of differences had been ironed out, including the creation of a consumer-protection bureau housed within the Federal Reserve, the regulation of debit-card "interchange" fees and measures requiring firms that securitise loans to retain a portion of the risk.

Furthermore, debit-card interchange fees only represent one of many types of fees banks charge.

Supposedly, capping the debit-card interchange fees large banks charge was going to save retail consumers billions.

In fact, there's an excellent chance the retailers would already be in court over debit-card interchange fees if not for something called the Durbin Amendment.