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.
Ahead of a hearing in the Senate Judiciary Committee on credit and debit card interchange fees, ABA joined with a broad coalition of industry groups to communicate to lawmakers the serious flaws of interchange regulations and push back against efforts to expand the Durbin amendment.
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).
Payment behavior “changed sharply in 2020 with the COVID-19 pandemic,” the Federal Reserve said today in a new research brief.
In response to the COVID-19 pandemic, the number of debit transactions declined 2.5% in 2020, the first dip in the 16-year history of the Pulse debit issuer survey released today.
Amid substantial growth in online purchases in recent years, the Federal Reserve today reopened its rule on the Durbin Amendment.
The American Bankers Association yesterday filed an amicus brief in the Texas state court case of Visa v. Sally Beauty Holdings.
Locking down the ecosystem—making the digital banking experience more secure—should be high on the list of goals for the future-is-now bank.
From offering bitcoin rewards checking to meeting the unique credit needs of gig workers and sole practitioners, Quontic Bank depends on innovative ideas and execution.
Two Wisconsin banks take extra steps to adjust their branch services.