Fed Determines List of Banks Exempt/Not Exempt from Durbin Debit Interchange Limits
July 14, 2011
The Federal Reserve Board this week released the lists of financial institutions intended to help payment card networks and others determine which issuers qualify for the statutory exemption from interchange fee standards. Institutions have been grouped into two categories: exempt and not exempt . Institutions in the exempt category have been determined to have reported assets of less than $10 billion, and therefore are exempt from the interchange fee standards under the Fed’s recently released Regulation II, 12 CFR part 235, which implements section 920 of the Electronic Fund Transfer Act.