Capping debit interchange rates for large-asset issuers hasgiven consumers more access to no-fee checking accounts, not less,according to research from the Federal Reserve Bank of KansasCity.

The study, authored by the bank's senior economist, RichardSullivan, has been submitted for publication in an upcoming editionof the Economics Review.

The debit interchange cap was the chief result of the Durbin Amendmentto the Dodd-Frank Act. It caps debit interchange for issuers ofover $10 billion and demands the debit issuers provide multiplenetworks for processing debit transactions.

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