Durbin Amendment Unlikely To Be Undone, Experts Say

Randy Benjenk is quoted in a Payments Compliance article regarding the unlikelihood that the Financial Choice Act becomes a law. Among other things, the reform bill would seek to repeal debit card reforms included in the Dodd-Frank Act, known as the Durbin Amendment. According to Benjenk, “Critics dispute that [the Durbin Amendment] has anything to do with consumer protection,” adding that there is no evidence to prove that it has lowered prices for consumers, which was its intended effect.