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Fed Has No Plans to Revise Interchange Fee Standard

Posted on 3/6/2013

The Federal Reserve does not plan to revisit its final rule capping debit card interchange fees at 21 cents per transaction, the agency stated in its report released on 2011 transactions. The report found that for 67 percent of issuers covered by the rule, the average cost of authorizing, clearing, and settling (ACS) debit card transactions in 2011 was less than 21 cents. Covered issuers that had average ACS costs below 21 cents in 2011 processed well over 99 percent of all reported covered transactions, the same proportion as in 2009, the report found.

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