- Briefing Room
- Consumer Engagement
- Commerce 3.0
Necessary, beneficial, worth the risk. Mistake, asinine… a drive-by shooting of due process? The Durbin Amendment brought forth volatile and very different points of view at the PYMNTS.com conference, “The Fed’s Proposed Debit Card Regulations: Are They Reasonable and Who Will Win or Lose?”
Top executives from card networks, major banks, credit unions, small financial institutions, law firms, consumer advocate groups and more gathered March 29 in Washington, D.C. at this PYMNTS.com-sponsored event. The conference explored the impact of the 12-cent interchange cap and related regulations the Federal Reserve proposed for debit cards last December in response to Durbin Amendment of the Dodd-Frank financial reform bill.
David S. Evans, founder of Market Platform Dynamics, pointed out in his introductory remarks that merchants are important clients for the card industry and thus stressed the need for all players “just to get along.” No tomatoes were thrown but the impassioned opinions were certainly flying back and forth at this elite industry event. PYMNTS.com was live on the scene blogging and has your full recap: