Federal Reserve Issues Final Rule Regulating Debit Interchange Fees and Network Exclusivity
Today, the Board of Governors of the Federal Reserve System approved its final rule regulating debit interchange fees and network exclusivity and routing, as well as its interim final rule on fraud-prevention adjustment, pursuant to Section 1075 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. After receiving over 11,000 comments, the Board made significant changes to its proposed rule, including a substantial increase in allowable interchange fees.