A new report from the Electronic Payments Coalition gathers the findings of over a dozen studies into one place, showing the Durbin amendment’s interference in a traditional two-sided market.
While proponents of the Durbin Amendment claimed it would help consumers by allowing merchants to offer lower prices, consumers have yet to see any real benefit seven years since it took effect. That’s not the only way consumers have been left footing the bill for the Durbin amendment, however. In the years since, they’ve also had restricted access to free checking and scaled back rewards programs.
Click here to download the report and take a closer look at how the Durbin amendment has failed to live up to its promises.