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Congress Should Repeal the Durbin Amendment on Debit Card Transactions - Electronic Payments Coalition

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Congress Should Repeal the Durbin Amendment on Debit Card Transactions

May 1, 2017 | Morning Consult

Joint trades op-ed signed by ABA, CBA, CUNA, EPC, FSR, ICBA and NAFCU

Policymakers in Washington regularly trigger the law of unintended consequences, hurting the very people they profess to help.

A prime example is the Durbin Amendment, a last-minute addition to the Dodd-Frank Act that placed the Federal Reserve in charge of pricing debit-card transactions and established new rules for how those transactions are routed.