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Tag Archives: Durbin amendment

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

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 scorn from the likes of ...

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

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 a cap on the fees ...

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