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On the Eve of Implementation, Fed Chairman Bernanke and FDIC Chairman Bair Still “Concerned” that Debit Card Rule Exemption for Small Financial Institutions Won’t Work - Electronic Payments Coalition

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On the Eve of Implementation, Fed Chairman Bernanke and FDIC Chairman Bair Still “Concerned” that Debit Card Rule Exemption for Small Financial Institutions Won’t Work

May 12, 2011 | Electronic Payments Coalition

In testimony before the Senate Banking Committee today, Federal Reserve Chairman Ben Bernanke acknowledged that there is “good reason to be concerned” that the so-called “exemption” for small financial institutions in the Fed debit card rule will not work in practice.