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Retailers pocketing $1 Billion Durbin windfall

Retailers pocketing $1 Billion Durbin windfall

The Electronic Payments Coalition (EPC) claims that consumers who use their debit cards to purchase gasoline are not benefiting from the reduction in debit card interchange rates that was mandated by the Durbin amendment to the Dodd-Frank law.  That amendment has resulted in a 70 percent reduction in interchange fees for fuel purchases made with [...]

The post Retailers pocketing $1 Billion Durbin windfall appeared first on Payments Cards & Mobile.

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