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Durbin Amendment - No Quick Fix for Small Businesses

Posted on 5/5/2011

According to a recent consumer impact study, small businesses are not likely to see large or quick decreases in the amount they pay for interchange since many have little debit card volume and about 75% pay a "blended" interchange rate based on all debit, credit, and prepaid card volume. The real beneficiaries of the Durbin Interchange Amendment are big-box retailers that will pocket bigger profits as banks are forced to provide them with debit services at below-cost government-fixed prices, reports the ABA.

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