Sentence examples for debit interchange from inspiring English sources
Visa said it had "concerns that the Federal Reserve's proposal includes artificial caps on debit interchange that do not realistically reflect the value of card acceptance".
After initially deciding that debit interchange fees should be lowered from 44 cents to 7 to 12 cents, the Fed, in yet another huge handout to big banks, revised the fee range to 21 to 24 cents.
Later, the Dodd-Frank Act directed the Fed to continue the process of addressing high and anticompetitive debit interchange fees by examining whether the banks could justify those fees on the basis of the costs banks incurred in processing debit card transactions.
Just last week the Independent Community Bankers of America protested the Federal Reserve's plan to cap debit interchange fees to comply with the Dodd-Frank financial reform act, saying it would put small banks at a disadvantage and make "the concept of 'free checking' a thing of the past".
Repeal the Durbin amendment on debit interchange fees.
My favorite bit of U.S. regulation in the past decade was also part of Dodd-Frank the Dodd-Frank thent's cap on DurbininterchAmendment.
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.
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.
