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With implementation of the Durbin Amendment approaching its four-year anniversary on Oct. 1, studies are accumulating that substantiate what the credit union industry argued all along during the enactment of the Dodd-Frank legislation.

The Federal Reserve Bank of Richmond, specifically, has published at least two studies in its Economic Quarterly by Zhu Wang and other researchers (third quarter of 2012 and third quarter of 2014). Some key points of the earlier study include:

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