Industry  Regulations

durbin legislation

In 2011, during the worst recession America has ever faced, a legislation was passed to reduce the overhead cost for millions of businesses in America accepting credit & debit cards. The Durbin Amendment, part of the Dodd-Frank Wall Street Reform Act, placed a cap on interchange & transaction fees leading to a fifty percent reduction in the costs associated with accepting debit cards. Unfortunately, due to the lack of regulations that protect entrepreneurs, over 48% of the companies we audit still aren’t receiving the benefits of this legislation. The Northwest Advisory Group is dedicated to helping merchants receive 100% of the Durbin cost reduction.