The Fed Settles the Debit Card Issue

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On June 29, 2011, the Federal Reserve published its final rule, known as Regulation II, Debit Card Interchange Fees and Routing (the “Rule”), which implements Section 1075 of the Dodd–Frank Wall Street Reform and Consumer Protection Act. The Rule differs in several respects from the proposed regulation that the Federal Reserve Board issued on December 16, 2010 (“Original Proposal”). Below are the key points...

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