Similarly, the Dodd-Frank so-called financial reform of 2010 greatly raises the cost of borrowing. The Durbin Amendment provision of that law, imposing price controls on what banks can charge retailers to process debit card transactions, has eliminated free checking and added fees to many consumers’ and entrepreneurs’ accounts at banks and credit unions.
More Updates
How the “Credit Card Competition Act” Would End 250-Million Co-Branded Card in the U.S.
Electronic Payments Coalition
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Big banks took $8B hit because of Durbin Amendment
Delaware Online
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Durbin Debit-Rate Cuts Failed to Help Consumers: Analysts
American Banker
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5 Things to Know About New Debit Card Fees
US News & World Report
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