Durbin Amendment AftershockPayments Industry Grapples with Proposed Regulation II |
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The Federal Reserve Board’s proposed Regulation II will limit debit interchange for card issuers with assets of $10 billion or more, and regulate other aspects of the U.S. debit card market. Published in December 2010, proposed Regulation II – or new Section 920 of the Electronic Funds Transfer Act – is the Federal Reserve’s attempt to implement the statutory text of the Durbin Amendment, but the proposal introduces considerable uncertainty about key aspects of the debit market.
To gather information about debit payments in advance of drafting its rules, the Federal Reserve conducted a survey of financial institutions with sufficient assets to be regulated under the proposed rules. Of the issuers that responded, 80 percent reported having combined authorization, clearing and settlement costs... (click to read) |
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“Millennials” are Key to Debit’s Success The “millennial” generation uses electronic and emerging payments more than any other demographic, according to the 2010 Study of Consumer Payment Preferences, conducted by Hitachi Consulting and BAI and co-sponsored by PULSE. Specifically, millennials – defined in the study as anyone between the ages of 18 and 34 – prefer to pay with debit cards over any other payment options. (click to read) |
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Mobile Payments Momentum Technology has been the force behind change in our economy in recent years, altering the way consumers interact not just economically but socially. Technological advancements also have given consumers boundless mobility – the freedom to stay connected anytime, anywhere.
This mobility has driven demand for the ability to perform tasks such as reviewing bank statements, transferring money, paying bills and even making purchases. In fact, the U.S. mobile payments market is on an incline, forecast to increase by... (click to read) |
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ATM & Debit Card Safety Awareness Month June Campaign Features Fraud-Fighting TipsPrevention of financial fraud and identity theft continues to be an important focus for financial institutions, especially in the age of electronic payments. Each year, PULSE keeps these issues top of mind for network participants by designating June as ATM & Debit Card Safety Awareness Month. (click to read)
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ATMs and the Americans with Disabilities Act What the Revisions Mean for Financial InstitutionsLast year, the United States Department of Justice (DOJ) revised its Americans with Disabilities Act (ADA) regulations, including Standards for Accessible Design, which pertain to ATMs. The final rules were published in the Federal Register on September 15, 2010, and impose new standards, including both technical and scoping requirements, for ATMs. These standards are set forth in Section 707 of the guidelines... (click to read)
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DebitProtect® Fraud Alert Rules Now Available PULSE has expanded its DebitProtect Fraud Prevention Services to include custom fraud alert rules. This powerful new tool allows financial institutions to build targeted strategies to detect and respond to fraud earlier and more effectively, helping reduce fraud losses.
“Our fraud alert rules process enables financial institutions to create their own fraud rules using combinations of 18 available parameters,” stated Eric Lillard... (click to read) |
