Get Navy Response To The Federal Reserve Board's Proposed Rule On Debit Card Interchange Fees And Routing 2011-2025
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The Durbin Amendment is an amendment to a larger bill, the Dodd-Frank Wall Street Reform and Consumer Protection Act. Among other things, the Durbin Amendment capped the fee that businesses pay banks when they accept a debit card. The cap is 0.05% plus a flat $0.22 cent transaction fee.
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