Banks, Merchants and Consumer Groups Wrangle Over Likely Outcome of Controversial Change to Debit Card Fee Structure
REPEATING...
--(BUSINESS WIRE)--PYMNTS.com:
“What’s the Problem, What’s the Solution, Who Wins, Who Loses”
Host: | PYMNTS.com | ||||
What: | A half-day conference will examine the potential impact of proposed Federal Reserve Board regulations on debit card interchange fees. Under the proposed regulations, bank debit card fees charged to merchants for debit card transactions would drop by some 80%. Banks have expressed dismay over what would be a massive revenue loss, while merchants applaud the proposal. The conference will examine what the rules ultimately could mean for consumers, banks and economic efficiency. A final decision by the Fed is expected on April 21, 2011, unless Congress passes legislation to postpone the deadline to allow for further study. | ||||
Who: | Economists, law professors and representatives from banks, networks, merchants and consumer groups. Participants will include John Buhrmaster, chairman and president of 1st National Bank of Scotia; Mallory Duncan, senior vice president, general counsel, National Retail Federation; Chris McWilton, president, U.S. Markets, MasterCard Worldwide; and Travis Plunkett, legislative director, Consumer Federation of America. | ||||
When: | |||||
| Tuesday, March 29, 2011, 9:00 a.m. – 2:30 p.m. ET | |||||
| 9 a.m., “Reasonable Regulation of Debit Card Fees,” Martin Neal Baily, Bernard Schwartz Senior Fellow in Economic Studies, Brookings Institution, and Chairman of the Council of Economic Advisors under President Clinton. | |||||
| 10:15 a.m., “The Economic Impact of Durbin on Consumers and Small Businesses,” Richard Schmalensee, professor of Economics, Management and Dean Emeritus, MIT Sloan School of Management, and a member of the Council of Economic Advisors under President George H.W. Bush. | |||||
11:00 a.m., “What’s the Problem, What’s the Solution, Who Wins, Who Loses,” Panel discussion with law professors Adam Levitin (Georgetown), Ronald Mann (Columbia), and Todd Zywicki (George Mason), and economist James Miller III (former OMB Director), moderated by Douglass Eliott (Fellow at Brookings Institution). | |||||
| 12:30 p.m., Debit Card Stakeholder Roundtable | |||||
Where: | |||||
| Willard InterContinental Hotel | |||||
| 1401 Pennsylvania Ave., NW | |||||
| Washington, D.C. 20004 | |||||
About PYMNTS.com
PYMNTS.com is an online media channel that captures user-generated and expert-driven commentary, information, news, and analysis on “what’s next” in the payments sector worldwide. The site provides a platform for industry professionals to share content related to company and product developments, to tap into the collective commentary and analysis from experts, bloggers and industry pundits, and to interact with industry thought leaders and other influencers on topics of critical importance to the future of the sector. A joint venture of Business Wire, a Berkshire Hathaway Company, and Market Platform Dynamics, PYMNTS.com redefines the ways in which B2B news and information is both generated and distributed.
Contacts
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