July 12, 2011
Federal Reserve releases lists of institutions subject to, and exempt from, the debit card interchange fee standards
For immediate release
The Federal Reserve Board on Tuesday published lists of institutions that are subject to, and exempt from, the debit card interchange fee standards in Regulation II, which implements provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These lists, available at www.federalreserve.gov/paymentsystems/debitfees.htm, are intended to help payment card networks and others determine which issuers qualify for the statutory exemption from interchange fee standards. The statute exempts any debit card issuer that, together with its affiliates, has assets of less than $10 billion.
The interchange fee standards become effective on October 1, 2011. The Board plans to update the lists annually.
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