Analysis of Federal Reserve data by card comparison site CardHub.com indicated that debit card issuers with assets of over $10 billion are losing $8.06 billion a year from regulations implementing the Durbin Amendment debit interchange cap.  Debit card issuers with assets of below $10 billion are losing $329.4 million per year, the site projected.

Interchange fees charged by large asset debit issuers have decreased significantly since the Federal Reserve's interchange fee cap took effect – falling 59.3% for signature transactions and 32.4% for PIN transactions, according to the firm's analysis.

"The effect of the Federal Reserve's interchange fee cap on large banks is really no surprise," remarked Card Hub CEO Odysseas Papadimitriou. "From the moment the rule was finalized, it was plainly obvious that large banks were going to take a big hit. The only real questions were exactly how big and how they would recoup their losses. Now we know that it costs them over $8 billion and led them to abolish debit card rewards while increasing checking account fees–changes that we should expect to be permanent."