Read Fed’s Final Debit Regulations – Just Released

What's Next In Payments®
2:58 PM EST June 29th, 2011

June 29, 2011

The Federal Reserve has just made public its official plan for implementing debit card swipe fee reform as mandated by the Durbin Amendment. The full PDF of the regulations is available on PYMNTS.com:

- Fed Memo on Debit Regulations

- Fed’s Full-Length Report on Debit Regulations

The Final Rule sets a cap of 21 cents on transactions that fall within its scope (plus 5 basis points on the transaction value) and requires issuers to place two unaffiliated marks, on every debit card. But the final rule does not answer every question about the original draft, and it does not account for many of the concerns raised in the public comments. Legal experts Tom Brown, Katherine Robison and Samuel Zun  of O’Melveny & Myers LLP discuss the highlights. Read More


Related Content

 

Highlights from the Durbin Debate: A Timeline Retrospective

Bloomberg: “How Wal-Mart Trumped JPMorgan on Debit Cards”

Dodd-Frank Rules Will Fail, Predicts Fed Leader

The Durbin Amendment: Myth vs. Reality 

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