Tag Archives: Durbin amendment

Retailers win big as court declares 21-cent swipe fee cap too high

July 31, 2013

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The Federal Reserve’s Board of Governors erred in letting swipe fees that banks charge retailers for each debit card transaction go as high as 21 cents a transaction, a federal court ruled Wednesday. The ruling by the U.S. District Court in Washington drew the predicable applause from groups such as the National Retail Federation and […]

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National bankers group encouraged by bid to quash debit-fee cap

March 15, 2011

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By Ted Carter The American Bankers Association says legislation introduced in the Senate Tuesday gives it hope that banks can avoid a pending cut in the fees they receive from merchants on debit card transactions. The so-called Durbin amendment, named after sponsor Sen. Dick Durbin of Illinois, mandates the Federal Reserve’s Board of Governors put […]

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