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Table of Contents

Lead Story

Getting a bead on mobile merchants


Industry Update

Latest interchange increases - waving a red flag?

And the breach goes on

Durbin Amendment regs delayed temporarily

Durbin Amendment draws opposition

Ingenico gaining slice of U.S. market


The experiences of an entrepreneur

Ken Musante
Eureka Payments LLC

Research Rundown

The future of mobile payments

Selling Prepaid

Prepaid in brief

The secret to selling gift card programs

Metabank's cautionary tale


ACH finds volume in consumer apps

Patti Murphy
The Takoma Group

What a bank core processor means to you

Brandes Elitch
CrossCheck Inc.

Circumvent cyber theft through education

Tony Griffith
Integration Specialist


Street SmartsSM:
Spring cleaning the ISO house

Bill Pirtle
MPCT Publishing Co.

Smart phones, dumb habits

Dale S. Laszig
Castles Technology Co. Ltd.

Memorable ISO legal catastrophes

Adam Atlas
Attorney at Law

Old fraud schemes resurfacing?

Nicholas Cucci
Network Merchants Inc.

Company Profile

MagTek Inc.

New Products

An RDC solution for the Apple Mac

RDC Select for Panini I:Deal

Drive compliance with a PCI dashboard

Panoptic Security Inc.


Pause before you walk the tradeshow floor


10 Years ago in
The Green Sheet


Resource Guide



2011 Calendar of events

A Bigger Thing

The Green Sheet Online Edition

April 25, 2011  •  Issue 11:04:02

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Durbin Amendment regs delayed temporarily

Don't count on the Federal Reserve Board issuing final regulations implementing the Durbin Amendment by the April 21, 2011, deadline Congress set under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. After being inundated with more than 11,000 comment letters, Fed Chairman Ben Bernanke said in a recent letter to Congress that staffers need more time to review and consider issues raised by those letters before they can finish the rule-making process.

But hold the applause. Bernanke also said the Fed is committed to having regulations in place before July 21, when the debit-interchange-cap law takes effect, according to news service reports. The letter was sent to leaders of the House Financial Services and the Senate Banking committees.

The potential consequences

The Durbin Amendment, among other things, instructs the Fed to issue rules to cap debit card interchange fees charged merchants at rates deemed "reasonable and proportional" to costs incurred by issuers. Community banks - those with assets below $10 billion - are exempt from the legislation. So are prepaid debit cards.

A set of proposals for implementing Durbin was drafted by the Fed's staff and released for public comment in late December; interested parties had until February 22 to submit comment letters.

They proposed two scenarios for capping debit card interchange, either of which would result in a 70 percent hit to issuing banks' debit interchange revenues, based on 2010 assessments.

Opponents argue the proposal could have serious unintended consequences for consumer spending and bank balance sheets.

It also could stymie efforts to bank the unbanked by forcing banks to raise other fees, thereby making checking accounts unaffordable to more Americans, several economists have warned.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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