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Interchange Legislation a ‘Bad Idea’ for CUs, Members & Businesses, Study Shows

Cornerstone Advisors releases a 42-page report showing the negative impacts of the interchange law.

credit card transaction Credit/Shutterstock

A report commissioned by CUNA and the American Association of Credit Union Leagues (AACUL) to study the impact of the 2010 Dodd-Frank Act’s Durbin Amendment was published Monday and found continued negative impacts of the interchange legislation on small businesses and consumers, stating that it has led to “unintended consequences” for credit unions and other financial organizations.

The report “The True Impact of Interchange Regulation: How Government Price Controls Increase Consumer Costs and Reduce Security” was published by Cornerstone Advisors. In the 42-page report, Cornerstone Advisors took a look at the debit card routing mandates and debit interchange price caps instituted by the Durbin Amendment more than a decade ago.

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Michael Ogden

Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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