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Merchants Ignore Durbin’s Toll on Their Customers

| American Banker

Retailers who claim that restrictions on debit card fees benefit credit unions and community banks miss the point: these price controls are bad for consumers.

After Congress passed the Durbin amendment — which was authored by Sen. Dick Durbin as part of the 2010 Dodd-Frank Act — merchants promised to pass the savings on to consumers in the form of lower prices.

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