When will it end?
As the battle between big banks and big retailers over interchange fees drags on, consumers, credit unions and mom-and-pop retailers are the victims as Congress injected itself into the fight.
When retailers lobbied Congress to impose price controls on interchange fees–promising to pass any resulting savings along to their customers in the form of lower prices–the result was the Durbin amendment, which was poorly designed and shoehorned into the federal Dodd-Frank Act.
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