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Industry Compares Card Settlement to Durbin Amendment

Reaction to settlement of longstanding credit card anti-trust suit.

By David Morrison | Updated on July 16, 2012

Reactions from the American Bankers Association, the major card brands and industry coalitions to the settlement of a long-standing credit card anti-trust suit have been largely favorable and have contrasted the settlement with the Durbin amendment which capped debit card interchange for many large debit card issuers.

Under the terms of the settlement, Visa and MasterCard along with some of the biggest card issuers will pay retailers a total of roughly $8.25 billion. The settlement also allows for retailers to surcharge with certain restrictions consumers who choose to pay with a credit card.

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