Credit/Debit Fees

Every time a consumer swipes a credit card, credit card issuers charge a fee, commonly known as an interchange fee or swipe fee. Those fees raise prices for all consumers and are putting tremendous financial pressure on retail store owners across the country, including truckstops and travel plazas.

In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. As part of the legislation, Congress included an amendment (known as the “Durbin Amendment”) that requires the Federal Reserve to issue rules capping interchange fees for debit card transactions. While many retailers argued for a lower fee than those ultimately established by the Federal Reserve, the rule does set a maximum fee that can be charged for each debit card transaction. In recent years, the banks and credit card companies have aggressively lobbied Congress to repeal the Durbin Amendment. A repeal of the Durbin Amendment was contained in the House of Representative’s Dodd-Frank reform bill in 2016. Similar legislation is expected to be reintroduced in 2017.

NATSO works with a variety of groups representing the retail community to advocate for the Durbin Amendment and to fight efforts to repeal the amendment.

NATSO and First Data have partnered on a cost effective and competitive solution for payment processing that is fast, convenient and secure. Learn more here.

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