Section 1075 of the 2010 Dodd-Frank Act requires the Federal Reserve Board to regulate the debit card industry including the interchange fee banks and credit unions receive from merchants. This paper reviews the arguments in support of this regulation put forward by Senator Durbin, who...
JURISDICTIONAL STATEMENTThis case is before the Court onappeal from the July 31, 2013memorandum opinion and order of theUnited States District Court forthe District of Columbia, Judge Richard J. Leon, granting summaryjudgment for the plaintiffs. In the district court, plaintiffs challengedthe Board’s regulations regardingdebit interchange fees,...
Section 1075 of the 2010 Dodd-Frank Act requires the Federal Reserve Board to regulate the debit card industry including the interchange fee banks and credit unions receive from merchants. This paper reviews the arguments in support of this regulation put forward by Senator Durbin, who...
Plaintiffs NACS (formerly, the National Association of Convenience Stores),National Retail Federation (“NRF”), Food Marketing Institute (“FMI”), Miller Oil Co.,Inc. (“Miller”), Boscov’s Department Store, LLC (“Boscov’s) and National RestaurantAssociation (“NRA”) (collectively, “plaintiffs”) bring this action against the Board ofGovernors of the Federal Reserve System (“defendant” or...
Discover and the National Payments Council of India (NPCI) have announced an agreement that will enable India’s RuPay debit card to make international payments by July 2013. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
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This article argues that the Durbin Interchange Amendment’s“multi-homing” provision, which prohibits exclusive routingarrangements on debit card transactions, should be understood topermit “cross-routing”— the routing of signature debit transactionsover PIN debit networks and vice-versa to encourage competitionfor best price execution on payment card authorization, clearance and...
The charges applied by debit card networks and the banks issuing debit cards have become matters of broad interest and import ,as the numbers of Americans using debit cards and the value of debit card transactions have both risen sharply and steadily. Read more. Get...
The European Union is making preparations to contain the effects of panic should Greece exit from the Euro. Among the measures they are considering: imposing a limit on the amount of money that can be withdrawn from cashpoints or ATMS, imposing border checks, and introducing...
