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Consumers Are Not Seeing Any Savings From Durbin Amendment

Wednesday, December 14, 2011 - 6:11 AM
The Electronic Payments Coalition released a study that shows that retailers are not passing along any savings from the debit card regulation. Here's an excerpt from the Electronic Payments Coalition study:
Our field research found no evidence of any savings being passed along to consumers in the form of lower prices as a result of the Durbin amendment price controls. Of the 21 retail locations studied, 16 locations – 76 percent – either raised prices or kept them the same before and after the Durbin amendment went into effect. Just five stores lowered their prices after October 1st. Overall, customers paid an average of 1.7 percent more for the same products after the Fed rule was implemented.

Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Wednesday, December 14, 2011 - 8:04 AM
Consumers Are Not Seeing Any Savings From Durbin Amendment

Not yet, butt we'll get it in the end......;<)
StewieStewie56 posts since
Jan 18, 2010
Rep Points: 318