ICBA released talking points to help community bankers answer questions about the impact of the Federal Reserve’s rule implementing the Wall Street Reform Act’s debit card interchange price controls.
The talking points note that the harmful consequences of the Durbin amendment are playing out for consumers now that the Oct. 1 deadline has passed. They also point out that while community banks with less than $10 billion in assets are exempt, they will likely earn less debit card revenue as the rule is implemented.
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