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Filene Research Institute Report: Interchange Regulation: Implications for Credit Unions

In Interchange Regulation: Implications for Credit Unions, author Adam Levitin builds on his previous research to dissect the Dodd- Frank Act and, in particular, the Durbin amendment affecting debt interchange. The report argues that the amendment will push down the approximately $17B in debit interchange paid to issuing financial institutions every year which will cause growing credit union debt and rising costs to consumers and institutions alike.

ICLE: The Economics of Payment Card Interchange Fees and the Limits of Regulation

This study by Todd J. Zywicki identifies both the theoretical and actual failings of such debit regulation. Payment cards are a secure, inexpensive, welfare-increasing payment mechanism largely unlike any other in history. Rather than increasing consumer welfare in any meaningful sense, interchange fee legislation represents an attempt by some merchants to shift costs away from their businesses and onto card issuing banks and cardholders.