Debit Card Interchange Fees and Routing Proposed Rule Summary

Updated 02/12/2024

This tool summarizes the Federal Reserve Board’s proposed rule to update Regulation II provisions to lower the debit card interchange fee cap. The following are the key takeaways of the changes:

  1. The Board is proposing to lower the interchange fee cap.
  2. The fee cap under the proposed rule would adjust every two years based on a survey on large debit-card issuers. The adjustment is proposed to go into effect without inviting comments on the allowable costs considered for purposes of the interchange fee standards.
  3. The proposed rule exempts β€œsmall issuers,” defined as debit card issuers with assets of less than $10 billion.



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