Electronic Payments Coalition
August 18, 2015 No Comments
The cost of the new regulations has resulted in higher prices for virtually every banking service. Imagine the cost of a banking system that must pay for tens of thousands…
Electronic Payments Coalition
August 18, 2015 No Comments
He said the 2,300 page-long legislation shows an experiment stumbling badly, 400 mandates later. Among his points: Dodd-Frank’s Durbin amendment is blamed for the huge erosion of free checking: 75…
Electronic Payments Coalition
August 6, 2015 No Comments
Before Dodd-Frank, 75 percent of banks offered free checking, but now only 39 percent do so because of the “Durbin Amendment,” which imposed price controls on the fee paid by…
Electronic Payments Coalition
August 5, 2015 No Comments
In his July 27 letter, Sen. Dick Durbin claims that his amendment to the Dodd-Frank Act capping debit-card interchange fees didn’t reduce the prevalence of free-checking products. He states that…
Electronic Payments Coalition
July 31, 2015 No Comments
C-SPAN3 aired a clip of Rep. Jeb Hensarling at an American Enterprise Institute event last week discussing the negative consequences of Dodd-Frank, including the reduction of free checking accounts due…
Electronic Payments Coalition
July 22, 2015 No Comments
And so it proved. Surveys demonstrated that as soon as the Durbin Amendment was passed – even before it went into effect – banks started raising fees and cutting back…
Electronic Payments Coalition
July 21, 2015 No Comments
Sheila Bair criticized the Durbin amendment on FOX’s “After the Bell” saying that she doesn’t believe retailers are passing along savings from the amendment.
Electronic Payments Coalition
July 21, 2015 No Comments
For more on Dodd-Frank’s five-year trail of destruction—from Durbin Amendment price controls on what banks may charge retailers to process debit cards that have sent checking account fees soaring to…
Electronic Payments Coalition
July 21, 2015 No Comments
Before Dodd-Frank, 75% of banks offered free checking. Two years after it passed, only 39% did so—a trend various scholars have attributed to Dodd-Frank’s “Durbin amendment,” which imposed price controls…
Electronic Payments Coalition
July 20, 2015 No Comments
Tuesday will mark five years since President Obama’s signing of the Dodd-Frank law, the most sweeping rewrite of the country’s financial laws since the New Deal. Mr. Obama told the…
We are the credit unions, community banks, payment card networks, and institutions who support the backbone of our economic system: electronic payments.
