Interchange Fees

Our Position

While envisioned to help consumers, the Durbin amendment has instead lined the pockets of big-box retailers, with little evidence of price cuts for consumers or benefits to small merchants. Credit unions are committed to exceptional member-service and as such must be able to make a reasonable return on interchange fee income in order to continue to provide important consumer financial services, such as free checking accounts. The arbitrary price cap imposed by the Durbin amendment must be removed in order to restore some fairness to the interchange system and increase the benefits realized by a greater range of merchants and consumers.