Financial industry experts and three separate government agencies have confirmed that small banks and credit unions have benefitted from debit reform, putting to rest the banking lobby's negative and false claims about the impact of the Durbin Amendment.
Studies by the Federal Reserve, the Federal Reserve of Kansas City, the Federal Trade Commission and the Government Accountability Office have shown that fee revenues for banks exempted from the interchange fee limits have remained unaffected or have even grown thanks to the two-tier fee system mandated by debit reform for exempt and non-exempt banks.
As a result of the reform, small institutions can now compete with large banks and have attracted new customers with improved customer service and offerings.
For more information read the Merchants Payments Coalitions’ latest fact sheet: The Verdict Is In: Small Banks Win With Debit Reform
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