Browsing: Debit cards

Newsbytes ABA, trade groups call for extension on Reg II changes

ABA joined four other financial trade associations in a letter to the Federal Reserve last week seeking an extension for the effective date of a recent final rule amending Regulation II (the implementing regulation for the Durbin Amendment).

Community Banking Senate hearing rekindles debate over Durbin amendment

At a Senate Judiciary Committee hearing, banking, credit card industry representatives and some lawmakers pushed back against proposals to expand interchange regulation to credit cards, arguing that the existing interchange fee limits imposed by the Durbin amendment more than a decade ago are hurting consumers. 


In a letter to the Federal Reserve yesterday, a group of six financial trade associations—including the American Bankers Association and the Independent Community Bankers of America—described the ongoing harm that the Durbin Amendment has caused to consumers and community banks and called for its repeal and expressed concerns about the risks from current and potential future proposals to change Regulation II (Durbin’s implementing regulation).

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