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The time has come for some truth on the world of payment card flips. Effective July 1, Reg II (Durbin 2.0) disrupted banks’ income on debit cards. While banks won’t immediately feel the effects that Durbin 1.0 had in 2011, they’re likely to see an 18% to 25% volume shift from signature to PIN card transactions by the end of 2025. And the threat of disruption on credit cards looms large.
Brandi Gregory May 14, 2021 The Fed’s proposed change to the Durbin Amendment could mean big losses in payment card interchange income for financial institutions. This week marks the 10th anniversary of the Durbin Amendment (Regulation II) to the Dodd-Frank law that went into effect on Oct. 1, 2011. It is a momentous occasion that we will all celebrate … NOT.
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