From the Durbin amendment to Reg E, recent regulatory developments have financial institution executives seeking new sources of revenue. However, instead of embarking on the quest, financial services industry executives should look to return to the basic fundamentals and focus on interest income, the most important revenue component for...
The furor over debit card fees left many consumers with the impression that banks benefited from the change in interchange regulations, a new study shows.
Saying that the debit card swipe fees set by the Federal Reserve were neither reasonable nor proportional, the National Retail Federation and other groups have sued the agency.
Los Angeles credit union said cards were rejected because of expiration dates and members told to offer 'big bank' cards.
Retail groups say Fed has failed to regulate swipe fees under intent of Dodd-Frank.
Illinois senator blasts lengthy disclosures, asks FTC to study impact of interchange fee cap.
Two legislators have announced they will file a bipartisan bill in the House to repeal the Durbin amendment and remove its cap on debit card interchange.
"Durbin dollars" to merchants flowing in, Heartland Payments Systems says.
Some industry organizations which fought the passage of the Durbin amendment have moved quickly to applaud the prospect of its repeal.
Utah Republican, New York Democrat say repeal "would restore balance" to the electronics payments system.