Durbin to Illinois Bankers: Small Banks will Benefit from Interchange #SwipeFees Reform


Assistant Senate Majority Leader Dick Durbin D-IL sent a letter to three Illinois banking associations today, highlighting a recent announcement that Visa would establish a two-tiered interchange fee system – one for large institutions and one for small institutions. Visa’s announcement means that small banks and credit unions – which were given an exemption from new interchange regulation – will benefit from changes to the interchange system.

via Durbin to Illinois Bankers: Small Banks will Benefit from Interchange Reform.

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