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Federal banks debit card fees declined substantially

According to Federal Reserve data released on May 1, the average interchange fees for banks with more than $10 billion in assests dropped 45 percent between 2009 and 2011's fourth quarter. The Fed's final rule implementing the Durbin amendment became effective Oct. 1, 2011. 

Based on the data, the average fees exempt banks with less than $10 billion in assests received remained at 43 cents during the fourth quarter. The Durbin amendment's phased implementation makes it impossible for the Fed's initial report to completely reflect or predict the consequences of upending the marketplace with government price controls, ABA President and CEO Frank Keating noted. 

The ABA believes the Durbin amendement's small-bank exemption can't work in the long term. 

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