Rather than pass debit interchange savings from the Durbin Amendment on to consumers, gasoline retailers are pocketing the difference, according to the Electronic Payments Coalition.
Named for its chief Senate sponsor, Illinois Democratic Sen. Richard Durbin, the amendment capped the amount of money debit-card issuing banks could make from each debit transaction.
At the time the amendment was debated, supporters asserted the savings retailers saw from debit transactions could be passed on to consumers, but the EPC said its research demonstrates that gasoline retailers have not been doing that.
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