Durbin amendment

The Durbin amendment, implemented by Regulation II,^[1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a senator from Illinois, after whom the amendment is named.^[2]

After the rule to limit fees, 12 C.F.R. §235, went into effect, a coalition of merchants sued the Federal Reserve. The rule was upheld when the Supreme Court denied petition for certiorari in 2014. ^{[citation needed]}