Debit Card Interchange Reform Said To Be In Final Bill | IDC Insights Community


For those not familiar with it, the Durbin Amendment, which was added to the Senate version of the financial reform bill in a last-minute vote that caught the card issuers completely by surprise, does three major things: first, it gives the Federal Reserve authority to set debit card interchange fees so they are based on actual processing cost to the issuer; second, it allows merchants to offer discounts for particular brands or types of debit cards; and third, it allows merchants to set minimum amounts for debit card purchases. There’s more, but for our purposes I’ll just focus on the first two provisions.

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