WASHINGTON - As Congress contemplates whether to pass a law regulating debit card interchange, a majority of economists and government officials attending a meeting on the subject agreed that there is no economic basis for the proposed regulatory change.
"The literature cannot even tell us whether a cap on debit card interchange will reduce or increase the numbers of debit cards," Todd Zywicki, a professor of law at the George Mason University School of Law told attendees of a June 9 conference on the topic.
"The principle of 'do no harm' would suggest that a more prudent course would be to more closely and rigorously study an issue before making such a decision."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
