Home Depot says new regulations capping debit fees have helped the retailer deliver lower prices to its customers.
Home Depot Treasurer Dwaine Kimmet says the company has reduced prices on more than 3,000 products, according to American Banker. Worth noting, however: Kimmet won’t go so far as to attribute those cuts directly to Durbin, only to say that the regulations have helped reduce costs overall.
“The money saved [by] Durbin goes into the pool of savings, lowers our overall operating costs and allows us to reinvest in the business to lower prices,” Kimmet told the financial news outlet. “We have absolutely lowered prices … [but] what I can’t do is draw that direct correlation to Durbin.”
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