Tag Archives: Durbin Amendment

Monday, January 20, 2014

NRF urges appeals panel to uphold ruling against Fed’s interchange rule

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The National Retail Federation urged a three-judge appeals panel on Friday to uphold Judge Richard Leon’s July ruling that the Federal Reserve cap on debit swipe fees is too high and that the cap should be lowered. “Nearly four years … Read More…

Monday, January 13, 2014

MPC’s Kantor: Payment system lacks security due to transfering fraud costs to retailers

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Doug Kantor, counsel for the Merchants Payment Coalition, said in an op-ed last week that the “broken” U.S. payment system lacks security because credit card companies “that control the system can push the costs of fraud onto retailers.” Kantor said … Read More…

Wednesday, January 1, 2014

Court to allow NAFCU, amici to present arguments in Fed appeal on debit interchange

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A federal appeals court granted on Friday the National Association of Federal Credit Unions and other amici time to present oral arguments in January on the Federal Reserve’s appeal regarding debit interchange fees. NAFCU and amici, in seeking to participate … Read More…

Friday, November 22, 2013

Study: Durbin Amendment costs consumers $22 billion

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A recent report on the impact of the Durbin Amendment revealed that the Dodd-Frank provision has cost consumers between $22 billion and $25 billion. The controversial Durbin Amendment led the Federal Reserve to implement a cap on the amount a … Read More…

Friday, August 2, 2013

Court invalidates Durbin Amendment

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A U.S. district court invalidated the Federal Reserve’s Durbin Amendment on Tuesday, saying the Fed ran “completely afoul of the text, design and purpose” of the provision. Judge Richard Leon ordered the central bank to recalculate the cap on debit … Read More…

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