CUNA releases study on true impact of interchange regulation

As big box retailers push Congress to impose more government mandates on card payment systems and interchange, a new study reveals the continued negative impact of interchange legislation on consumers, small businesses, and financial services options. Information on the study for Leagues and credit unions is available at

CUNA and American Association of Credit Union Leagues (AACUL) commissioned Cornerstone Advisors to study the impact of the 2010 Dodd-Frank Act’s Durbin Amendment, which implemented debit card routing mandates and debit interchange price caps. The study includes the financial impact from existing and proposed regulations – including the interchange bill introduced this Congress by Sen. Richard Durbin, D-Ill.

“The research clearly shows that imposing a government mandate on interchange didn’t help consumers or small businesses the first time around,” says Jim Nussle, CUNA president/CEO. “To keep credit cards accessible and safe, merchants must have equal responsibility to protect the data and systems that enable their quick and secure payments. Cutting credit card interchange with this new bill would help big box retailers avoid responsibility and put consumers at greater risk. We’ve seen the unintended consequences from the Durbin Amendment for more than a decade. Let’s not double down on a bad idea.”

CUNA sent members of Congress the study Monday morning, urging them not to support a repeat of the failed Durbin Amendment. Cornerstone Chief Research Officer Ron Shevlin wrote in Forbes Monday that the bill would hurt consumers and small businesses.


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