Based on the experiences in other countries which have also capped debit interchange, credit unions should expect to see the Federal Reserve revisit its Durbin Amendment regulations in the next one to two years.
That is the opinion of Andy Brown, director of product marketing for ACI Worldwide, a payments software developer.
Addressing a telephone conference call addressing the impact of the Durbin Amendment regulations, Brown pointed out that in every other country which had capped debit interchange, regulators had to “go back in” to make changes or fixes to the existing rule. Brown, who has worked with debit in various countries, brought an international perpective to the call.
Brown also observed that Federal Reserve Chairman Ben Bernanke had hinted at the possibility when he noted the regulator would be paying attention to how the small issuer exemption to the cap worked or failed to work.