Recently, Doug Kantor, the general counsel for the National Association of Convenience Stores, published an op-ed claiming the debit card payment system for online purchases is broken and urged the Federal Reserve to step in and fix it. His proposed solution: a further expansion of the Durbin Amendment’s government mandated routing requirements.
More Updates
The Durbin Amendment 10 Years Later: A Decade of Loss for Consumers and Small Businesses
Morning Consult
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Joint Letter Responding to State Legislation that would Prohibit Interchange on the Sale Tax Portion of Electronic Transactions
Electronic Payments Coalition
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Let’s Keep Sen. Durbin and His Amendment Out of Credit Cards
Real Clear Markets
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General, Op-Ed