Trade Associations Set Record Straight on Debit Interchange Fee Caps

NAFCU, CUNA, and the Independent Community Bankers of America have joined together to dispel the notion that debit interchange caps have benefited consumers. In an American Banker editorial the trade associations wrote that a recent survey of merchants revealed that very few are passing on the savings to their customers. The total amount that retailers have saved as a result of the Durbin amendment is estimated to be $32 million. [2/25/16]