How the Durbin Amendment was adapted and finalized

Author: Eddie | Subject: Banking

How the Durbin Amendment was adapted and finalized image
Article excerpt:  The Durbin Amendment, which was a belated addition to the U.S. SEC 920 of this act, was aimed at ensuring that banks would apply “reasonable fees and rules for [electronic] payment card transactions.” It therefore follows that, by the very nature of this amendment, its introduction was likely to have an adverse impact upon banks, reducing revenues and therefore the profitability of these organisations.