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Durbin Reg Costs Big Banks More Than $8 Billion

Big banks lost big bucks on interchange since Durbin. Smaller banks experienced a slight decline while credit unions held steady.

By David Morrison | Updated on May 03, 2012

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.

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