Our impact analysis findings indicate that no action should be taken by Congress until a thorough study is conducted that includes regulators, credit union and community bank advocacy groups, industry stakeholders, academic experts and analysts.
Boston, MA (PRWEB) June 14, 2010
The Card Swipe Fee Amendment, proposed by Illinois Democratic Senator Dick Durbin (D-Ill) calls for regulations that may have unintended and undesired effects on the financial services industry, reaching far beyond controlling debit card fees and negatively disrupting a complex payment eco-system. This is the opinion of the Mercator Advisory Group, an independent research and consulting firm solely focused on the payments and financial services industries.
"We believe strongly that caution is the watchword when considering this regulation. Mercator Advisory Group agrees with the call to remove this amendment from consideration at this time," Robert Misasi, president and CEO of Mercator Advisory Group states. "Our impact analysis findings indicate that no action should be taken by Congress until a thorough study is conducted that includes regulators, credit union and community bank advocacy groups, industry stakeholders, academic experts and analysts."
In view of Durbin's proposed Card Swipe Fee Amendment, which attempts to apply a regulatory framework around debit card payment acceptance at the point of sale, Mercator Advisory Group has released a free special report that assesses the potential impact of this amendment on the electronic payments industry as well as proposing what Mercator considers to be reasonable next steps out of a topic mired in well-intentioned hyperbole.
Mercator Advisory Group's analysis includes assessing the potential impact of Durbin's Card Swipe Fee Amendment on a wide range of industry segments including debit and prepaid cards, demand deposit accounts, government benefits programs, financial institutions, and merchants.
This special complimentary report can be distributed freely. To access this free report visit us at mercatoradvisorygroup.com and download from our homepage.
Parties interested in interviewing Mercator Advisory Group analysts who participated in this report should contact Brent Watters, Director of Marketing at (781)-419-1709, bwatters(at)mercatoradvisorygroup(dot)com.
About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors.
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