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Interchange Cap Opponents May Find Durbin Amendment Difficult to Fix

Opponents of the Durbin amendment's cap on debit card interchange may find repealing the legislation an easier battle than fixing it.

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Opponents of the Durbin amendment’s cap on debit card interchange may find repealing the legislation an easier battle than fixing it.

The Durbin amendment made it very clear that small debit card issuers with assets of less than $10 billion were not supposed to be covered by the debit card cap. “This subsection shall not apply to any issuer that, together with its affiliates, has assets of less than $10 billion and the board shall exempt such issuers from regulations” flowing from the amendment, the law says.

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