Federal Reserve System
On November 14, 2023, the Board of Governors of the Federal Reserve System (Board) published in the Federal Register a proposal that would update all three components of Regulation II's interchange fee cap based on the latest data reported to the Board by large debit card issuers, update the interchange fee cap every other year going forward by directly linking the interchange fee cap to data from the Board's biennial survey of large debit card issuers, and implement a set of technical revisions to the regulation. The proposal provided for a comment period ending on February 12, 2024. The Board is extending the comment period for 90 days, until May 12, 2024. Further, additional data concerning the proposed new methodology for determining the base component of the interchange fee cap are being made available on the Board's website.
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-1818] RIN 7100-AG67 ( printed page 5438) AGENCY: Board of Governors of the Federal Reserve System. ACTION: Notice of proposed rulemaking; extension of comment period. SUMMARY: On November 14, 2023, the Board of Governors of the Federal Reserve System (Board) published in the Federal Register a proposal that would update all three components of Regulation II's interchange fee cap based on the latest data reported to the Board by large debit card issuers, update the interchange fee cap every other year going forward by directly linking the interchange fee cap to data from the Board's biennial survey of large debit card issuers, and implement a set of technical revisions to the regulation. The proposal provided for a comment period ending on February 12, 2024. The Board is extending the comment period for 90 days, until May 12, 2024. Further, additional data concerning the proposed new methodology for determining the base component of the interchange fee cap are being made available on the Board's website. DATES: The comment period for the proposed rulemaking published on November 14, 2023 ( 88 FR 78100 ) is extended. Comments must be received by May 12, 2024. ADDRESSES: You may submit comments by any of the methods identified in the proposal. FOR FURTHER INFORMATION CONTACT: Benjamin Snodgrass, Senior Counsel (202-263-4877) or Cody Gaffney, Senior Attorney (202-452-2674), Legal Division; or Krzysztof Wozniak, S…
Other Federal Register documents from the same docket.
Debit Card Interchange Fees and Routing
Debit Card Interchange Fees and Routing
Debit Card Interchange Fees and Routing
Debit Card Interchange Fees and Routing
Debit Card Interchange Fees and Routing
Citation: 89 FR 5438
