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Digital Transactions: Merchants Celebrate the Durbin Amendment’s Sixth Birthday as Payments Group Sneers
| Digital Transactions
The Durbin Amendment’s debit card interchange price cap took effect six years ago this month, prompting a merchant group to celebrate the occasion and claim the measure has saved consumers and merchants $48 billion. But a lobbying group of payment networks and banks derided those savings estimates and once again said the amendment has hurt consumers.
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