PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

NACS Urges Strengthening of Fed's Debit Interchange Rules

By Sarah Grotta
March 25, 2016
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

business documents on office table with smart phone and digital tablet and graph business diagram and man working in the background

Convenience Store News highlighted that Regulation II also known as the Durbin Amendment is up for review by the Fed as required by the Economic Growth and Regulatory Paperwork Reduction Act. The Durbin amendment is the regulation that capped debit card interchange for banks with over 10 Billion in assets and established the rules requiring the availability of routing choice on all debit cards.

Not surprising, NACS, the Association for Convenience & Fuel Retailing has express their interest in seeing debit interchange reduced further:

“While debit fees should have been reduced even further than they have been to date,” NACS did acknowledge that Reg. II has ultimately been a “net positive” for its constituents since going into effect in 2011.

“By lowering retailers’ costs of accepting debit transactions, small businesses have been able to pass on savings to consumers in the form of lower prices,” the association wrote in its letter.

Their full comments can be read here

Also not surprising is that the Electronic Payments Coalition (EPC) is not in agreement with NACS’ stance. EPC is lobbying the Chairman of the Board of Governors of the Federal Reserve, Janet Yellen, to consider that the $36 Billion in reduced interchange fees that merchants experienced never found their way back to consumer’s pockets, a major tenet of the Durbin amendment.

EPC’s comments to the Fed can be found here

Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group

Read the full story here

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025
    agentic commerce

    The Agentic Advent: How the Next Iteration of AI is Shaping Commerce

    June 6, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result