On Oct. 25, 2023, the Fed proposed a rule to lower the interchange fee cap in Regulation II, which is largely applicable to debit card issuers with at least $10 billion in consolidated assets. The proposed rule would be the first time that the debit interchange cap has been adjusted since its implementation via the Durbin Amendment and Regulation II.
Fed Issues Proposed Rule Lowering Regulation II’s Debit Interchange Cap
