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Economic Quarterly

Third Quarter 2014

The Impact of the Durbin Amendment on Merchants: A Survey Study

Zhu Wang, Scarlett Schwartz and Neil Mitchell

The Durbin Amendment to the Dodd-Frank Act introduced a regulation on debit card interchange fees, which went into effect in October 2011. Based on a merchant survey conducted two years after the regulation, we investigate the impact of the regulation on merchants' costs of accepting debit cards. We also examine merchants' reactions to the regulation in terms of changing prices and debit card restrictions.

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