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Regulation

Durbin Asks Fed Chairman for ‘Appropriate Enforcement Action’ Involving Debit Card Transaction Routing

“U.S. Sen. Richard Durbin and a Vermont Congressman want the Federal Reserve to look into what they say are efforts by debit card issuers “aided by the dominant card networks” to prevent PIN-debit networks from getting a bigger share of booming card-not-present payment volume. “The Federal Reserve should consider appropriate enforcement action and policy responses […]
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On The Wires

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Regulation

Federal Reserve Board Invites Public Comment on Proposed Changes to Regulation II Regarding Network Availability for Card-not-present Debit Card Transactions and Publishes a Biennial Report Containing Summary Information on Debit Card Transactions in 2019

“The Federal Reserve Board on Friday invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing) to clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. The Board views these clarifications of […]