Originally Posted by
tmiw
Durbin caps debit fees regardless of the network used. However, for issuers with less than $10 billion in assets, the caps don't apply. (I don't think any of the gift card issuers are exempt from the caps, but I could be wrong.)
Also, if only that particular provision went away, I'd imagine surcharging and minimums would become even more common than it already has. They're only supposed to do it for credit cards, sure, but almost no business that does so differentiates in my experience.
Please look up how much community banks and credit unions dislike Durbin before commenting on it.
Your $10 billion in assets argument is a political lie that came from Washington politicians.
I wouldn't be surprised to see banks/networks raise their interchange rates for credit cards after this. Merchants will get stung one way or another, whether they like it or not. I guess if the networks did that I would be okay with them raising those fees and providing higher rewards.