• Senate Wall Street Reform Bill Includes Proposed Regulation of Credit and Debit Card Interchange Fees
  • May 18, 2010 | Authors: Jennifer D. Lambert; Brian M. Murphy; Robert J. Pile; Marc A. Rawls; David A. Zimmerman
  • Law Firm: Sutherland Asbill & Brennan LLP - Atlanta Office
  • Using the platform of helping small businesses and working Americans, U.S. Senator Dick Durbin (D-Illinois) proposed three amendments to the Senate Wall Street reform bill that would regulate, and likely reduce, the interchange fees paid by merchants and alter the rules set forth by the bankcard associations. The fees, typically ranging from 2% to 3% of the card user’s purchases, compensate the card processors and banks that process the credit and debit transactions.