Stax

DECEMBER 20, 2023

On a federal level, the Durbin Amendment , part of the Dodd-Frank Wall Street Reform and Consumer Protection Act was introduced in 2010 and limits transaction fees. per transaction according to the Federal Reserve. The Durbin Amendment was enacted in 2010 to protect consumers from hidden fees.

Debit Card 88

Debit Card Legal Credit Cards Processing Costs 88

PYMNTS

MAY 30, 2018

That finding comes care of data gathered by 12 regional Federal Reserve banks in a survey conducted over the third and fourth quarter of 2017. Financing of all sorts was on the downswing, and SMB owners began dipping into their own piggy banks before seeking a lending agreement.

Underwriting 46

Underwriting Small Business Federal Reserve Community Banks 46

PYMNTS

APRIL 1, 2020

This is thanks to a 2010 federal law known as the Durbin Amendment, which requires that merchants be able to select from at least two unaffiliated networks through which they can route their transactions. This then prompted the Federal Reserve to decide in 2011 to restrict interchange fees on PIN debit cards to no more than $0.21

Debit Card 56

Debit Card Electronic Funds Transfer (EFT) Debit Transaction Federal Reserve 56

PYMNTS

JUNE 10, 2019

Basel III regulations, which were agreed upon in 2010 and set to be fully in effect by 2027, imposed stricter capital requirements on financial institutions that some critics argued stifled FIs’ ability to provide loans to small and medium-sized businesses (SMBs).

Small Business 40

Small Business Regulations Federal Reserve Finance 40

CB Insights

JUNE 5, 2018

In order to incentivize customers to use credit cards, issuing banks offer a slew of rewards programs, consumer protection services, and other perks. Perks attract consumers to buy on credit, and banks profit from interchange fees. The above begs the question: why are credit cards so widely used if merchants have to pay so much?

Online and Mobile Banking 68

Online and Mobile Banking Debit Card Credit Cards Payment Gateways 68

PYMNTS

MARCH 8, 2016

On Monday (March 7), the president met with Federal Reserve Chair Janet Yellen and other top regulators at the White House to discuss the progress of their attempt to rein in banks and trading firms with the Dodd-Frank Wall Street Reform and Consumer Protection Act , which was signed into law back in 2010.

Federal Reserve 40

Federal Reserve Regulations Consumer Protection Laws 40

FICO

JULY 17, 2017

In June, the House adopted, along a party line vote, the Choice Act, which aims to make broad changes to the 2010 Dodd-Frank statute. In the coming months, the President will have the opportunity to nominate new leadership at the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, and a year from now at the CFPB.

Consumer Financial Protection Bureau (CFPB) 40

Consumer Financial Protection Bureau (CFPB) CFPB Office of the Comptroller of the Currency Financial Crimes 40