Small Business Majority joins Amicus Brief demanding stronger enforcement of Durbin Amendment to rein in interchange fees

To address the rising costs of debit card interchange fees, Small Business Majority recently joined a coalition of eight organizations to file an amicus brief in Corner Post v. Federal Reserve Board. The brief argues that the Federal Reserve’s implementation of Regulation II, which enforces the Durbin Amendment’s cap on debit interchange fees, fails to sufficiently protect small businesses and consumers from excessive interchange fees - allowing banks and debit card issuers to continue charging excessively high fees.