Retail associations are celebrating what they are calling a year since their legislative victory in the battle over the Durbin amendment by asserting that none of amendment opponents' dire predictions have come true.

The Merchant Payments Coalition, an association of retail trade associations formed to force lower debit interchange, pegged the year countdown to the defeat of the Tester amendment, the last major push to delay the implementation of  the amendment's interchange cap.

"This week, one year after the defeat of the Tester amendment, the facts are in and the outcome is clear. Despite a flawed Federal Reserve rule, the reforms are working," the coalition said in a public statement. "Consumers and merchants are feeling relief from Visa and MasterCard's price fixing, and community banks and credit unions across America are thriving."