How the Durbin Amendment Affects Credit Card Merchant Services - 0 views

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  #1 james jack on 25 Jul 13

   

  In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was created initially to lower swipe fees for business owners and holders of merchant accounts. It supposedly reduces the cost for merchants and consumers by cutting bank revenue. This revenue, normally gained by increasing swipe fees, was largely opposed to by banks for obvious reasons.

   

  <div class="cArrow"> </div><div class="cContentInner">In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was created initially to lower swipe fees for business owners and holders of merchant accounts. It supposedly reduces the cost for merchants and consumers by cutting bank revenue. This revenue, normally gained by increasing swipe fees, was largely opposed to by banks for obvious reasons.</div>

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