SOURCE: Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond

August 18, 2015 11:49 ET

Richmond Fed's Economic Quarterly Looks at Durbin Amendment Impact on Merchants

RICHMOND, VA--(Marketwired - Aug 18, 2015) -  The Richmond Fed's new Economic Quarterly features a report on a survey of merchants to learn about the impact of a regulation on debit card interchange fees that was part of the Durbin Amendment to the Dodd-Frank Act.

Based on a survey conducted two years after the regulation went into effect in 2011, Richmond Fed economist Zhu Wang and his co-authors Scarlett Schwartz and Neil Mitchell investigate the impact of the regulation on the costs to merchants of accepting debit cards. They also examine merchant reactions to the regulation in terms of changing prices and debit card restrictions. The survey results suggest that the regulation has had limited and unequal impact on merchants' debit-acceptance costs.

This article and others in the latest issue of Economic Quarterly are available on our website.

Also in this issue:

  • How Can Consumption-Based Asset-Pricing Models Explain Low Interest Rates? by Felipe Schwartzman
  • Should Greece Remain in the Eurozone? by Robert L. Hetzel

The Economic Quarterly is a free publication containing economic analysis pertinent to Federal Reserve monetary and banking policy. More information is available from the Federal Reserve Bank of Richmond's Research Department at (800) 322-0565 or online.

The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.

Contact Information

  • Contact:
    Amanda Kramer
    Senior Managing Editor
    Federal Reserve Bank of Richmond Economic Quarterly
    Email Contact
    804.697.8606