Consumer Groups, Banks Battle to Influence Fed’s Debit Rule (Digital Transactions)

Recent meetings between Federal Reserve staff members, consumer groups, and payments executives show just how divergent the views are as the Fed prepares the first-ever regulations on U.S. payment card interchange. Consumer groups are pushing for “at-par” debit card interchange—essentially, no interchange. A big regional bank, however, said the Fed “will threaten the future of the payment system in the U.S.” if it doesn’t take the appropriate costs of offering debit cards into account.






Comments are closed.

%d bloggers like this: