The Cost of the Durbin Amendment

August 9, 2021

The Durbin Amendment, passed as part of Dodd-Frank in 2010, established a government-imposed price control on interchange fees for debit cards. This cap has resulted in a massive transfer of income from consumers to retailers. In fact, according to a recently-conducted analysis using data from the Federal Reserve, since 2012, issuers have lost nearly $106 billion in interchange revenue — including an estimated $15.2 billion in 2020 alone.

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