Back
Federal Reserve Chairman Ben Bernanke Acknowledges that Federal Reserve Debit Card Rule Could Hurt Consumers, Small Financial Institutions
| Electronic Payments Coalition
In response to questions, Chairman Bernanke acknowledged that the rule’s so-called “carve-out” for small institutions may not work, saying, “There is some risk that the exemption will not be effective, and that is the interchange fees available to smaller institutions will be reduced to the same extent we would see it at larger banks.”
More Updates
How the “Credit Card Competition Act” Would End 250-Million Co-Branded Card in the U.S.
Electronic Payments Coalition
Read
General
New Pushback on Durbin
Politico
Read
General
Debit-card destruction
Washington Times
Read
What Others Are Saying
‘Swipe’ Fee Cap May Force Fees, Job Cuts, Bankers Say
Bloomberg
Read
General