Survey covering almost half of U.S. debit traffic finds two-cent decrease reported in interchange rates from exempt issuers.
This year saw a regulation capping the interchange card issuers were able to earn on a debit card transaction come into effect for the first time in history.
The issue of revenue that banks and credit unions make from transactions on their debit cards moved from the obscure corners of the financial services industry into the national spotlight last week as the Federal Reserve's debit interchange cap came into effect.
The retailers are stepping up their defense of the Durbin Amendment and the interchange cap.
Majority whip, in speech Thursday, said credit union and small banks are "becoming part of big banking."
Illinois senator asks ABA to back off from "massive lobbying effort."
TCF National Bank, a major issuer of debit cards, has gone to a higher court to try again on blocking new cap.
The Illinois Democrat tells CEO "you and your bank already are making money hand over fist."
Efforts to delay the implementation of the Federal Reserve’s debit interchange rule continued on Capitol Hill and at the grassroots level last week.