In-depth study on Durbin's Card Swipe Fee Amendment necessary to prevent unintended consequences and significant disruption of payment eco-system
Boston, MA -- The Card Swipe Fee Amendment, proposed by Illinois Democratic Senator Dick Durbin (D-Ill) calls for regulations that may have unintended and undesired effects on the financial services industry, reaching far beyond controlling debit card fees and negatively disrupting a complex payment eco-system. This is the opinion of the Mercator Advisory Group, an independent research and consulting firm solely focused on the payments and financial services industries."We believe strongly that caution is the watchword when considering this regulation. Mercator Advisory Group agrees with the call to remove this amendment from consideration at this time,"Robert Misasi, president and CEO of Mercator Advisory Group states. "Our impact analysis findings indicate that no action should be taken by Congress until a thorough study is conducted that includes regulators, credit union and community bank advocacy groups, industry stakeholders, academic experts and analysts."
In view of Durbin's proposed Card Swipe Fee Amendment, which attempts to apply a regulatory framework around debit card payment acceptance at the point of sale, Mercator Advisory Group has released a free special report that assesses the potential impact of this amendment on the electronic payments industry as well as proposing what Mercator considers to be reasonable next steps out of a topic mired in well-intentioned hyperbole.
Mercator Advisory Group's analysis includes assessing the potential impact of Durbin's Card Swipe Fee Amendment on a wide range of industry segments including debit and prepaid cards, demand deposit accounts, government benefits programs, financial institutions, and merchants.
Parties interested in interviewing Mercator Advisory Group analysts who participated in this report should contact Brent Watters, Director of Marketing at 781-419-1709,bwatters@mercatoradvisorygroup.com.
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