Browsing: Debit cards

Newsbytes ABA, associations urge Fed to reject changes to debit fee cap

In a joint letter, ABA and eight banking and credit union associations urged the Federal Reserve to reject merchant requests for further limits on debit card interchange fees in Regulation II, saying such regulatory action could negatively affect the sustainability and affordability of core deposit account services.

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. 

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