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Debit Cards Fee Limits Have Big Affect Pay Day Loans and Overdraft Charges

Debit Cards Fee Limits Have Big Affect Pay Day Loans and Overdraft Charges

A report that is new the commercial research company, Moebs Services, sheds some light from the continued harm that the Durbin Amendment has wreaked on banking institutions and customers. The amendment, a provision that is last-minute of 2010 Dodd-Frank Act, capped the charges that merchants spend up to a bank each time a customer work with a bank’s debit card at their shop.

During the right time, my colleagues Iain Murray and John Berlau predicated that this boon for merchants will be at the cost of banks and customers.