Regulation II Expanded to Require Two Unaffiliated Networks on Card Not Present Transactions
CFPB Monitor
OCTOBER 5, 2022
On October 3, 2022, the Federal Reserve finalized a rule expanding Regulation II (Debit Card Interchange Fees and Routing), the implementing regulation for the Durbin Amendment. Federal Reserve Governor Bowman voted against the rule stating: “During the public comment process, community banks raised substantial concerns with the proposal.
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