Debit Card Interchange Fees and Routing

Title:
Debit Card Interchange Fees and Routing
Subject: Debit card interchange
Agency: Federal Reserve
Status:
Proposed rule
Summary:

The Board of Governors (Board) is seeking comment on a proposal to amend Regulation II to clarify that the requirement that each debit card transaction must be able to be processed on at least two unaffiliated payment card networks applies to card-not-present transactions, clarify the requirements that Regulation II imposes on debit card issuers to ensure that at least two unaffiliated payment card networks have been enabled for debit card transactions, and standardize and clarify the use of certain terminology.

FR Doc: 2021-100132021-13533 (comment period extension)
Date proposed: May 7, 2021
Comments due date: Aug. 11, 2021
Effective date:

Rule compliance date:
Agency release: Federal Reserve Board invites public comment on proposed changes to Regulation II regarding network availability for card-not-present debit card transactions and publishes a biennial report containing summary information on debit card transactions in 2019
Related Reg Report item(s): Ability to choose from two unaffiliated networks for ‘card-not-present’ debit card transactions proposed

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