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Durbin Amendment

Debit Interchange Regulation and More

The Durbin Amendment, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act in the United States, received a lot of attention from the very beginning. The Act was passed into law in July 2010, becoming Public Law 111-203. In a nutshell, the Durbin Amendment is debit interchange regulation. Calling for "reasonable interchange transaction fees for electronic debit transactions," it includes a variety of parameters and directs the Federal Reserve to be involved with establishing "reasonable" rates; the Fed announced final rates on June 29, 2011


Latest News: Financial CHOICE Act is a bill introduced to the 115th United States Congress in 2017 that would, if enacted, roll back many of the protections in the landmark Dodd-Frank 2010 federal law, including the "strongest" Wall Street "regulations from the financial crisis."

Update as of August 2019: This bill passed the House in June 2017; however, the next step would have been the Senate, but no other action took place. It appears that for the time being the Durbin Amendment will remain in place.


On January 20, 2015, the Supreme Court declined to review the Durbin Amendment despite an appeal from retailers.

The Durbin Amendment, part of the Dodd-Frank Act of 2010, set caps on swipe and/or interchange fees for debit card transactions. The Federal Reserve announced final rates in 2011 reducing the cap on swipe/interchange fees from the average of around 40 cents to 21 cents per transaction.

Even though the Fed reduced the fees close to 50 percent, the original draft of the amendment called for the caps to be between 7 and 12 cents. This has caused disputes between retailers and banks, mainly because banks argued for the 21-cent cap in order to expand consumer benefit programs. Retailers have since petitioned against the amendment as they did not see any expansion of these benefits; coincidentally, they have seen them reduced or eliminated.

Members, obtain more complete news and see a synopsis of what has occurred since the October 2011 implementation of debit interchange regulation (the aftermath).


About the Amendment and Related Rules

Industry Analyses

The Aftermath

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