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Saturday, October 08, 2011


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With respect to the below argument, that the banks could simply charge merchants instead of customers, that actually isn't true any longer. The Durbin Ammendment portion of the Dodd-Frank law specifically limits the amount of merchant processing fees that banks and processors can charge. Many people have argued that this loss of income (along with the loss of income that resulted from the law's limitation on consumer overdraft charges) is the catalyst for the new fees BOA and other banks will be rolling out to debit card customers.

"The banks seem very creative at introducing new fees. The banks could have created another new fee for their merchants, and charged merchants directly with this new fee. Or the banks could have lowered their internal costs by outsourcing to different vendors. Perhaps the costs the banks pay to outsourcing vendors for debit transaction costs is too high."


ChristinE and readers:

Thanks for the feedback. If we are to discuss the Durbin Amendment of the Dodd-Frank law, then please provide a specific link, page number, and/or paragraph number that supports your statement, so readers can evaluate for themselves. HR 4173 is here:


And, in a related article:

Another Reason to Break Up the Big Wall Street Banks: Bank of America’s Outrageous Debit Fee

Thank you.



Thanks, George. I will certainly post a relevant link in any future comments.

Best regards,


durbin amendment summary

Thank you George, I also believe the people of Bank of America should act in a more transparent manner in order to get the people trust again.

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