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The Federal Reserve Bank of Richmond published the report “Debit Card Interchange Fee Regulation: Some Assessments and Considerations” in the third quarter 2012 issue of Economic Quarterly. The report analyzes the debit card interchange fee regulation introduced by the Durbin amendment and its first-year impact on different players in the debit card market. The report specifically notes the unintended consequences of the Durbin amendment on small-ticket sales and rising bank fees.
The letter, signed by leaders of 18 center-right groups, calls for members Congress to reject price controls on retailers but to support a bipartisan bill to repeal the Durbin price controls on banks and credit unions.
The Internet Retailer Survey: Lower debit card rates elude most online retailers, but it’s still early
Only 14.6% of online retailers that responded to the survey say they’re paying lower fees on debit card transactions, while 17.7% say they’re paying more and 67.7% say their debit processing fees have not changed in the past year.
Economic Analysis of the Effects of the Federal Reserve Board’s Proposed Debit Card Interchange Fee Regulations on Consumers and Small Businesses
This paper examines the impact of the reductions in interchange fees proposed by the the Federal Reserve Board on consumers and small businesses. It finds that consumers and small business would face higher retail banking fees and lose valuable services as banks rationally seek to make up as much as they can for the debit interchange revenues they will lose under the Board’s proposal. The number of unbanked consumers would increase as lower-income households reduce the use of higher-priced accounts. Small businesses would lose money in the first 24 months the proposed rules are in effect because of the offsetting increase in bank fees. Most of these small businesses do not accept debit cards and therefore would not have any offsetting benefits from lower interchange fees. Large retailers would receive a windfall.
Members of Congress write to Mr. Benanke to express fears over interchange regulations’ harmful consequences for small businesses and institutions.
a letter to Mr. Bernanke from the City and County Credit Union warning of potential small business harm from debit regulation.
A letter warning Mr Bernanke of interchange regulations potential harms to consumers and small businesses.
This FMI Research study reports on 8,893 stores who share their experience with balancing budgets, equipment and personnel to create the best loss prevention strategies. It provides an in-depth look at all forms of loss as well as methods used to prevent theft in the food retailing industry. A special focus area on ORC including expert essays accompanies the report.