NBCC: Study by Federal Reserve economists shows the ‘Durbin Amendment” is a failed policy
| The Hill
It sometimes amazes me how many proof points Congress needs to act on an issue. Here is hoping that on the matter of debit card interchange fees, a recent Federal Reserve report is the straw that breaks the camel’s back.
The new study recently published by two Federal Reserve economists provides definitive proof, once again, that the Durbin amendment is a failed public policy. This deep dive examines the impact these price controls have had on consumers, and comes to the same conclusion that we and many others have been telling Congress for years: it hurts the very people Congress says they are trying to protect.