A Penny For Your Fraud Prevention? Fed Tweaks Interchange

By  |  July 31, 2012
 | 

The Federal Reserve Board approved a final rule for the regulation of debit card interchange fees that lets issuers charge more when they actively seek to reduce fraud.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    An issuer may charge an additional fee of up to one cent per transaction if it “develops and implements policies and procedures that are designed to reduce the occurrence and costs of fraudulent debit card transactions,” the Fed said in an official statement recently. The rule also requires an annual review of that policy, as well as regular updates.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The newest and potentially last rule for debit interchange goes into effect on October 1.

    Read the full release here.


    See More In: