On the Eve of Implementation, Fed Chairman Bernanke and FDIC Chairman Bair Still “Concerned” that Debit Card Rule Exemption for Small Financial Institutions Won’t Work

Electronic Payments Coalition | May 12, 2011

In testimony before the Senate Banking Committee today, Federal Reserve Chairman Ben Bernanke acknowledged that there is “good reason to be concerned” that the so-called “exemption” for small financial institutions in the Fed debit card rule will not work in practice.

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