S Amdt 3989 - Debit Card Fee Regulations - National Key Vote

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Title: Debit Card Fee Regulations

Vote Smart's Synopsis:

Vote to adopt an amendment to S 3217 that requires the Board of Governors of the Federal Reserve System, no later than 9 months after the date of enactment, to establish rules regulating transaction fees that an issuer or payment card network may charge with regards to electronic debit transactions.


  • Requires the amount of any electronic debit transaction fee that an issuer may charge to be "reasonable and proportional" to the actual cost incurred by the issuer or payment card network with respect to the transaction (Sec. 1077).
  • Exempts issuers that, together with affiliates, have assets of less than $10 billion (Sec. 1077).
  • Prohibits payment card networks from inhibiting the ability of any individual to do the following (Sec. 1077):
    • Provide a discount or in-kind incentive for payment through use of a card or device of another payment card network;
    • Provide a discount or in-kind incentive for payment by the use of cash, check, debit card, or credit card; or
    • Establish a minimum or maximum dollar value for any form of payment.