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The Durbin Amendment: What Do Interchange Fees Mean for You?
2010-06-01
The facts behind the noise of the Durbin Amendment debate
The Durbin Amendment has provoked all manner of sound and fury from Washington, creating the unlikely scenario where a Democrat is accused of supporting big banks over everyday consumers, and the most conservative members of the Senate align themselves with the most progressive Democrats in a highly contentious bill. But for all the media attention that interchange fee regulation has generated, it’s still an esoteric and somewhat difficult to grasp area. Check out our infographic for a cheat sheet on what an interchange fee is, and what actually happens when you pay with plastic.
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