The Hill News

There is a lot of foolish talk circulating on the Hill that the "small bank" exemption won't work. Yet those who promote this notion offer no sensible explanation. As former legal counsel to six large bank-owned debit card networks, we would like to set the record straight. The Durbin Amendment’s limits on debit card swipe fees apply only to the top 100 financial institution issuers. The remaining 7,500 or so institutions are expressly exempt under the law because they have assets of less than $10 billion.

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