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Consumers Already Paying Cost of Durbin Amendment, Card Analyst Says

Durbin Amendment bringing fees for debit cards, reducing free checking.

By David Morrison | Updated on September 29, 2011

Consumers are already paying for the Durbin Amendment, a measure which capped the debit card interchange merchants pay to card issuers, with fees for debit card usage, higher fees on checking accounts and fewer free checking accounts and loss of debit reward programs, according to the CEO of a consumer website.

Bill Hardekopf, CEO of LowCards.com, a website that helps consumers choose low cost credit cards, regularly surveys and analyzes the debit and credit card market.

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