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Durbin by Any Other Name…
John and Glen discuss the Credit Card Competition Act, the lessons that can be gleaned from “Durbin 1.0”’s impact on debit, the potential impact on credit interchange, and possible workarounds. Also, John declares body parts in his checked baggage.
Links related to this episode:
The FII Institute: https://fii-institute.org/
BAI’s take on the implications of Durbin 2.0: https://www.bai.org/banking-strategies/article-detail/whats-next-if-durbin-2-0-becomes-law/
Business Insider’s take on the political machinations: https://www.businessinsider.com/personal-finance/credit-card-competition-act-good-veterans-bad-for-rewards-2022-10
CUNA’s stance on attempts to attach the bill to the National Defense Authorization Act: https://news.cuna.org/articles/121611-financial-services-trades-to-congress-ndaa-shouldnt-be-a-payday-for-retailers
Payment Dive’s update on the latest twist that may keep interchange out of the NDAA: https://www.paymentsdive.com/news/credit-card-payments-competition-bill-durbin-congress-defense-spending-bill/633904/
Join us live every other Wednesday at 3pm ET/Noon PT for the CU Town Hall, an interactive discussion of the most pressing issues facing credit unions: https://www.cutownhall.com/
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Follow Glen on Twitter @154Advisors
Follow John on Twitter @jbfintech