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Did the Durbin Amendment Reduce Merchant Costs? Evidence from Survey Results

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  • Renee Courtois Haltom
  • Zhu Wang

Abstract

Debit cards facilitate nearly 50 billion transactions annually ? so the fees that debit card networks and issuers assess on each transaction are of great interest to merchants, consumers, and, more recently, regulators. In 2010, the so-called Durbin Amendment of the Dodd-Frank Act aimed to lower merchants' costs of accepting debit cards by capping debit interchange fees. New survey results suggest that the regulation has had limited and unequal effects on merchants. This Economic Brief discusses the causes of these findings as well as the implications of the regulation for end users.

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  • Renee Courtois Haltom & Zhu Wang, 2015. "Did the Durbin Amendment Reduce Merchant Costs? Evidence from Survey Results," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue Dec.
  • Handle: RePEc:fip:fedreb:00035
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