TITLE

First Data Says Debit Legislation Would Have Little Impact On Processor

AUTHOR(S)
Woodward, Kevin
PUB. DATE
May 2010
SOURCE
ISO & Agent Weekly;5/20/2010, Vol. 6 Issue 18, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the impact of the Debit Legislation amendment, which gives the Federal Reserve Board the power to control debit card interchange rates, on First Data Corp. in the U.S. Ed Labry of First Data believes that it will have minimal effect on the firm because it does not earn its revenue from interchange fees. David J. Koning of Robert W. Baird & Co. states that the reduction of debit interchange rates is not a guarantee that the company will decrease its discount rates.
ACCESSION #
51826232

 

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