A Brief Explanation of the Durbin Amendment for Online Business Merchant Account Members - 0 views

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  #1 james jack on 27 Jul 13

   

  The Durbin Amendment has ruffled feathers for those who hold an online business merchant account. It was only recently added to the Dodd Frank Wall Street Reform and Consumer Protection Act back in 2010, but consumers are already starting to see the effects. Introduced by senator Richard J. Durbin, it was designed to limit transaction fees billed to merchants by issuers like Visa, MasterCard, Discover, and American Express that were consequentially added to merchant services provider charges.

   

  <div class="cArrow"> </div><div class="cContentInner">The Durbin Amendment has ruffled feathers for those who hold an online business merchant account. It was only recently added to the Dodd Frank Wall Street Reform and Consumer Protection Act back in 2010, but consumers are already starting to see the effects. Introduced by senator Richard J. Durbin, it was designed to limit transaction fees billed to merchants by issuers like Visa, MasterCard, Discover, and American Express that were consequentially added to merchant services provider charges.</div>

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