Tag Archives: Durbin Amendment

Wednesday, July 23, 2014

Oberthur develops debit card to meet Durbin requirements

Oberthur Technologies

Oberthur Technologies announced on Monday that it has developed the first MasterCard-certified debit card that meets the requirements stipulated under the Dodd-Frank Act’s Durbin Amendment. The Cosmo RSA v5 M/Chip Multi-Application is based on Oberthur’s Global Platform and java-based operating … Read More…

Monday, January 20, 2014

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


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

Doug Kantor

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


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


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…

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