Roughly fifteen months after the Durbin amendment went into effect, the controversial legislation that capped debit card interchange for issuers with over $10 billion in assets has painted a mixed picture for most credit unions.
Regulations implementing the Durbin amendment came into effect Oct. 1, 2011.
In the shadowed part of the picture, interchange rates per debit card transaction appear to be definitely falling, according to payment processor and CUSO executives who track debit trends. In the lighter part of the image, overall debit interchange income has not fallen as much or has actually risen as credit unions added more debit cards or enacted programs to hike debit card usage.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
