July 26, 2011
Authored by: Barry Hester and Bryan Cave
After almost a year of debate on whether to unwind the legislation and delay its implementation, the Durbin Amendment to the Dodd-Frank Act will soon be implemented by the Federal Reserve Board’s final rule on debit interchange or “swipe” fees. Judie Rinearson explains in flow-chart format how the final rule, most of which takes effect October 1, 2011, applies to prepaid card programs. Her article “The Effect of the Fed’s Final Rule on Your Prepaid Program: The 13 Questions You Must Ask” was originally published by Paybefore.