Alert July 05, 2011

Goodwin Procter Issues Consumer Financial Services Alert Concerning FRB’s Adoption of Final Durbin Rules

Goodwin Procter’s Consumer Financial Services Practice Group issued a Special Alert concerning the FRB’s adoption of final rules implementing provisions of the Dodd-Frank Act to address debit interchange and network routing and exclusivity, among other things, and which have commonly been referred to as the Durbin rules.  As part of the final rules, the FRB adopted a per-transaction interchange cap consisting of a base component of 21 cents and a fraud loss adjustment of 5 basis points per transaction.