Debit Card Interchange Fees and Routing

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Federal Reserve System 12 CFR Part 235 [Regulation II; Docket No. R-1748] RIN 7100-AG15 AGENCY: Board of Governors of the Federal Reserve System. ACTION: Notice of proposed rulemaking; extension of comment period. SUMMARY: On May 13, 2021, the Board of Governors of the Federal Reserve System (Board) published in the Federal Register a proposal to amend Regulation II to clarify that the requirement that each debit card transaction must be able to be processed on at least two unaffiliated payment card networks applies to card-not-present transactions, clarify the requirements that Regulation II imposes on debit card issuers to ensure that at least two unaffiliated payment card networks have been enabled for debit card transactions, and standardize and clarify the use of certain terminology. The proposal provided for a comment period ending on July 12, 2021. The Board is extending the comment period for 30 days, until August 11, 2021. DATES: The comment period for the notice of proposed rulemaking published on May 13, 2021 ( 86 FR 26189 ), is extended. Comments must be received by August 11, 2021. ADDRESSES: You may submit comments by any of the methods identified in the proposal. FOR FURTHER INFORMATION CONTACT: Jess Cheng, Senior Counsel (202-452-2309), Legal Division; or Krzysztof Wozniak, Manager (202-452-3878), Elena Falcettoni, Economist (202-452-2528), or Larkin Turman, Financial Institution and Policy Analyst (202-452-2388), Division of Reserve Bank Operations and Paymen…