Countdown to Durbin

Bank of America Cutting Jobs

The Wall Street Journal, citing a document they obtained on September 20, revealed Bank of America has plans to cut 16,000 jobs by the end of the year. This move is not exactly surprising news since the company had already discussed plans to shave 30,000 jobs in a plan to trim jobs and cut costs…

Durbin Amendment Countdown

Durbin Amendment Fallout

Today The Official Merchant Services Blog offers a really quick update on the fallout from The Durbin Amendment. You’ll recall Host Merchant Services offered a thorough analysis of the legislation before it took effect. Much of the current media coverage for this topic revolves around something we predicted in that analysis: “The banks, not wanting…

Merchant Services Ninja picture

Durbin Aftermath: Banks Go Ninja Style

The Official Merchant Services Blog continues its far reaching and ongoing coverage of the Durbin Amendment and the aftermath of what this legislation brings. Just a quick recap of what the Durbin Amendment did: On October 1, the legislation put in place a cap on interchange fees from debit card usage. Prior to the legislation…

The Durbin Amendment is big news right now for merchant services providers

Durbin Saga: Banks Reconsider Fees

The Official Merchant Services Blog brings you a breaking news story following the ongoing aftermath of the Durbin Amendment legislation. Yesterday, Bank of America announced it was going to cancel its $5 monthly debit card fee plan. This falls in line with similar announcements from Sun Trust, Regions Financial Corp., JP Morgan Chase & Co.…

The Durbin Amendment is big news right now for merchant services providers

Florida Adds New Twist in Durbin Drama

The Official Merchant Services Blog has learned of the latest twist in the ongoing saga about the Durbin Amendment. The legislation, which was tacked onto the Dodd-Frank Wall Street Reform and Consumer Protection Act, caps the fees banks can charge for the use of debit cards. It went into effect on October 1, 2011. Host…

Durbin Amendment Countdown

Durbin Backlash: Bank of America

Today The Official Merchant Services Blog will take you through a quick roundup of the backlash over the Durbin Amendment. Host Merchant Services has kept  its finger on the pulse of this legislation as it weaved its way through congress and into reality. The HMS article section gives you a comprehensive analysis of the legislation,…