ICLE on the Durbin Amendment
The Points Guy – An ICLE report on the effects of the Durbin amendment on debit-card networks was cited in a post by The Points Guy op-ed about proposals to extend its rules to credit-card networks. You can read full piece here.
Another study by the International Center for Law & Economics estimates that the cap on interchange fees for debit transactions hit large banks’ annual revenues to the tune of $6.6-$8 billion. The loss in revenue directly contributed to reducing free checking accounts and rewards programs.