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Government price caps don’t benefit consumers

| The Hill

As we approach the fourth anniversary of the implementation of the Durbin amendment, the Federal Reserve Bank of Richmond has released a new study which finds that debit interchange price caps have had the exact negative impact that many people predicted when it became law. While big-ticket retailers have racked up nearly $32 billion from government regulated debit card interchange fees, those benefits don’t extend to consumers and small businesses.

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