Global Information Lookup Global Information

Durbin amendment information


The Durbin amendment, implemented by Regulation II,[1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a senator from Illinois, after whom the amendment is named.[2]

After the rule to limit fees, 12 C.F.R. §235, went into effect, a coalition of merchants sued the Federal Reserve. The rule was upheld when the Supreme Court denied petition for certiorari in 2014.

  1. ^ "Regulation II: Debit Card Interchange Fees and Routing". Federal Reserve.
  2. ^ Chen, Tim. "What the Durbin Amendment Means for You". U.S. News & World Report. Retrieved 9 April 2015.

and 23 Related for: Durbin amendment information

Request time (Page generated in 0.8028 seconds.)

Durbin amendment

Last Update:

The Durbin amendment, implemented by Regulation II, is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve...

Word Count : 1397

Dick Durbin

Last Update:

Richard Joseph Durbin (born November 21, 1944) is an American lawyer and politician serving as the senior United States senator from Illinois, a seat he...

Word Count : 9537

Authorization for Use of Military Force Against Iraq Resolution of 2002

Last Update:

than the continuing threat posed by Iraq. Sponsored by Sen. Dick Durbin (D-IL). Amendment SA 4865 not agreed to by Yea-Nay Vote: 30 - 70 The United States...

Word Count : 4300

Durbin

Last Update:

Durbin may refer to: Durbin (surname), people with the surname First name Durbin Feeling (1946-2020), American Cherokee linguist Durbin Feltman (born...

Word Count : 173

Merchant account

Last Update:

to the implementation of the Durbin Amendment, the swipe fee for a debit card transaction averaged 44 cents. Under Durbin, the Federal Reserve has set...

Word Count : 2933

National Association of Convenience Stores

Last Update:

of the 2010 law, often called the Durbin Amendment, mandating a cap on debit card swipe fees. The Durbin Amendment, passed as part of the Dodd-Frank financial...

Word Count : 1330

Bank Transfer Day

Last Update:

the caps imposed by the Durbin Amendment. The planned debit transaction fee increase is reportedly caused by the Durbin Amendment that went into effect...

Word Count : 1778

Decoupled debit card

Last Update:

roll-out of the Durbin Amendment—National Payment Card Association (NPCA) did not and is still thriving today in 2013. Why one survived Durbin and the other...

Word Count : 971

Interchange fee

Last Update:

harming merchants and ultimately consumers." On October 1, 2010, the Durbin Amendment came into effect as a last minute addition to the Dodd-Frank Wall Street...

Word Count : 3403

Seventeenth Amendment to the United States Constitution

Last Update:

Representative David Dreier of California proposed an amendment to remove this power; senators John McCain and Dick Durbin became co-sponsors, as did Representative...

Word Count : 6168

Flag Desecration Amendment

Last Update:

(RI), and Mitch McConnell (KY). The vote on Senator Richard Durbin's alternative amendment, which would have given Congress the power to ban flag desecration...

Word Count : 2399

DREAM Act

Last Update:

Richard Durbin, Democrat from Illinois, made its passage a top priority for 2007. In September 2007, Durbin filed to place the DREAM Act as an amendment to...

Word Count : 4238

DCI Group

Last Update:

press events, as part of the organization's campaign supporting the Durbin Amendment regulating bank debit card transaction fees. DCI Group was recognized...

Word Count : 2378

Detainee Treatment Act

Last Update:

Chuck Hagel, Gordon H. Smith, Susan M. Collins, Lamar Alexander, Richard Durbin, Carl Levin, John Warner, Lincoln Chafee, John E. Sununu, and Ken Salazar...

Word Count : 2144

2020 United States Senate election in Illinois

Last Update:

Dick Durbin, who had been Senate Minority Whip since 2015, won reelection to a fifth term in office, defeating Republican nominee Mark Curran. Durbin decisively...

Word Count : 2741

2014 United States Senate election in Illinois

Last Update:

elections. Incumbent Democratic U.S. Senator and Senate Majority Whip Dick Durbin ran for re-election to a fourth term. He was unopposed in the Democratic...

Word Count : 1163

Brennan Center for Justice

Last Update:

contributions to political campaigns. The organization helped Senator Dick Durbin write the Fair Elections Now Act. The Brennan Center advocated for the passage...

Word Count : 1743

Jamie Whitten

Last Update:

election. In 1985, when then-junior Appropriations Committee member Dick Durbin spoke with Chairman Whitten about possibly sitting on the Budget Committee...

Word Count : 1248

Party leaders of the United States Senate

Last Update:

of Kentucky. The current assistant leaders, or whips, are Senators Dick Durbin (D) of Illinois and John Thune (R) of South Dakota. By at least 1850, parties...

Word Count : 1136

Illinois Fair Tax

Last Update:

The Illinois Fair Tax was a proposed amendment to the Illinois state constitution that would have effectively changed the state income tax system from...

Word Count : 6411

2002 United States Senate election in Illinois

Last Update:

Incumbent Democratic U.S. Senator Dick Durbin sought re-election to a second term in the United States Senate. Durbin defeated Republican challenger State...

Word Count : 347

1996 United States Senate election in Illinois

Last Update:

third term in office. In the Democratic primary, U.S. Representative Dick Durbin emerged victorious, while state representative Al Salvi won the Republican...

Word Count : 274

United States Senate

Last Update:

been elected by a statewide popular vote, as required by the Seventeenth Amendment. As the upper chamber of Congress, the Senate has several powers of advice...

Word Count : 10636

PDF Search Engine © AllGlobal.net