May 25, 2017Blog Posts

House drops Durbin repeal; retailers ring up a win

Mobile Payments Today:

The U.S. House of Representatives has dropped wording that would have repealed the controversial Durbin Amendment of the Dodd-Frank Wall Street Financial Reform and Consumer Protection Act voted into law in 2010 under the Obama administration. The amendment imposed caps on the swipe fees set by the major card networks for debit card transactions, and allowed retailers a choice of networks for debit transaction routing.

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