The furor over debit card fees left many consumers with the impression that regulation of debit card interchange flowing from the Durbin amendment actually helped, not hurt, bank debit card issuers, according to a recent study.
The study, "Evolution in Consumer Payments Behavior," published by Javelin Strategy and Research found that 70% of consumers survey reported they thought the interchange regulation would benefit banks while only 30% thought the new rules would benefit merchants.
The firm cited the way large banks had handled the issue, adding fees to debit cards, for the perception along with their inability to frame the issue for consumers.
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