Lawmakers Move to Exempt More Banks From Debit Card Fee Caps

Two bills passed Tuesday (May 12) by the House of Representatives are only the latest efforts by lawmakers to cut red tape for smaller banks. Senate would exempt more small financial institutions from the Durbin Amendment to the Dodd-Frank Act rule that caps debit card fees. The Community Bank Relief Act ( S.3849 ) would raise the current $10 billion asset threshold exempting small financial institutions from the rule and would tie that threshold to the annual cost-of-living a