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Where’s the Debit Discount?

The research presented in this document sought to identify evidence that retail customers are not seeing any benefit from these price controls. This exercise compared identical baskets of goods before and after the October 1st implementation of the Durbin amendment, through a total of 84 shopping trips at 21 retail locations of four major national retail brands in six diverse U.S. cities. Our field research found no evidence of any savings being passed along to consumers in the form of lower prices as a result of the Durbin amendment price controls. Of the 21 retail locations studied, 16 locations – 76 percent – either raised prices or kept them the same before and after the Durbin amendment went into effect. Just five stores lowered their prices after October 1st. Overall, customers paid an average of 1.7 percent more for the same products after the Fed rule was implemented.

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