Durbin Amendment And Interchange Caps: Impact on Fintechs

Updated 10/12/2023 One of the more disputed parts of the Dodd-Frank Act passed in 2010 following the Great Financial Crisis, is the Durbin Amendment, which limits the interchange fees banks can charge for debit cards. Those fees were in the billions, and they created two levels of routing for debit cards, signature and pin-less, which […]